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I do not think inflation is fine. Advancing technology and improvements in manufacturing should make my money buy more, not less.
by landemva 5y ago
I do not think inflation is fine. Advancing technology and improvements in manufacturing should make my money buy more, not less.
- johnny_b_g 5y agoThis totally ignores the greediness in capitalism, which cryptocurrencies exemplifies (there's no problems they actually solve, except the problem of how to make the rich richer)
- landemva 5y agoSocialist countries and dictatorships also agree with you that inflation is good. It's not a greedy capitalist thing, it's a 'greedy people in charge of the money' thing. Inflation is theft, and the rich protect themselves by buying stuff that basically tracks inflation. The poor get run over.
- chii 5y agoand it did - for those technologies that became cheaper as a result. For other things that tech didn't increase the supply of, you end up paying more. If you did not have inflation - or had deflation even, like in the case of bitcoin - everything would "become cheaper", but it would make certain types of goods/services scarcer (since they'd be paid less and less for doing the same labour due to the deflation, and so would choose to stop doing it at some point).