3 ms·
Sure. 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
by mdpopescu 6y ago
Sure. 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.