5 ms·
At least dogecoin has a static and predictable supply inflation and doesn't glorify slave owners and indian killers.
by anonisko 6y ago
At least dogecoin has a static and predictable supply inflation and doesn't glorify slave owners and indian killers.
- emptyparadise 6y agoKabosu the Shiba Inu is my president.
- WoahNoun 6y agoInflation and changes to the money supply are not the same thing. This conflation gets pushed by libertarians/techno-libertarians constantly. The money supply can increase and inflation (the price of goods and services) can go down.
- mdpopescu 6y agoTo inflate = to increase in size. The money supply increases = it inflates.
- j4yav 6y agoThat's correct, and also prices increase (or inflate). The parent is saying conflating increase in prices and increase in monetary supply can be incorrect.
- mdpopescu 6y agoSure. However, the problem is the increase in the money supply, which is theft. The increase in prices is rather irrelevant - inflation would still be bad even if the prices were to decrease. (There are hundreds of papers explaining why.)
- WoahNoun 6y agoHow is an increase in the money supply theft if increases in price are irrelevant?
- mdpopescu 6y agoThe same way debasing gold coins is theft, even if the prices don't rise (because, say, you just conquered another country and got a new bunch of slaves to produce stuff). Claiming that inflation is a rise in prices confuses cause and effect. As I said, this is rather well discussed by various economists. See for example https://mises.org/wire/inflation-beginners https://mises.org/wire/inflation-beginners
- WoahNoun 6y agoThe Mises org is libertarian clap-trap and not serious economics.
- WoahNoun 6y agoThat is a disingenuous argument, at best. Inflation is a specific economic term with a specific definition. And it's not increase in the money supply.