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Seems like a solid, albeit somewhat dry explanation of inflation. I love concrete examples of how inflation impacts people’s lives, and there are a few that re
by shubik22 5y ago
Seems like a solid, albeit somewhat dry explanation of inflation. I love concrete examples of how inflation impacts people’s lives, and there are a few that really helped clarify my understanding of inflation that I like to point others to now.
1) https://www.npr.org/sections/money/2015/12/02/458222801/episode-216-how-four-drinking-buddies-saved-brazil https://www.npr.org/sections/money/2015/12/02/458222801/epis.... A great Planet Money episode about how Brazil combatted hyperinflation by just replacing their currency.
2. https://slate.com/business/1998/08/baby-sitting-the-economy.html https://slate.com/business/1998/08/baby-sitting-the-economy..... A Paul Krugman Slate article about a 1978 journal article that uses the example of a babysitting coop to illustrate the way that the monetary supply can have ramifications on the real economy.
3. And the Money Kept Rolling In (and Out) https://www.amazon.com/dp/1586483811/ref=cm_sw_r_cp_api_glt_fabc_HX6M0Z6K2FJNX9JWQ7JJ https://www.amazon.com/dp/1586483811/ref=cm_sw_r_cp_api_glt_.... A much longer read, but this is book about the economic crisis in Argentina is one of my favorite economics books, and also teaches you a lot about the international monetary system as well.
- dnautics 5y agoKrugman's blindness to the patently obvious solution to babysitting coop scrip story is astounding. If anything it belies the Marxist philosophy that an hour of work is an hour of work. It's completely ridiculous that any arbitrary pair of hours should be equivalent to each other. They should not have pegged the currency, and that is the problem. When you think inflation is a hammer and all planned economies are nails, people are gonna get hurt.
- marcosdumay 5y ago> by just replacing their currency And stopping printing money and balancing the budget. Also a lot of legal interventions to stop some habits, and even a constitution change. The Real was a complex and multifaceted project.