2 ms·
I'd really like some prominent economist or business magnate to simplify big monetary concepts for the general public like: "Fiat inflation simply happens when
by andrewmcwatters 3y ago
I'd really like some prominent economist or business magnate to simplify big monetary concepts for the general public like:
"Fiat inflation simply happens when many people ask for more money for their goods or services over time. We want this to happen so that people do not hoard money, because we create it when people take on debt.
If a small number of people hoard money that doesn't lose value, total economies and their movement of money from one person to another are dictated by primarily by the larger number of people creating debt."
Then we can all stop having conversations like "let's increase or not increase minimum wage," because we will all collectively have a better understanding of what it is that we're receiving for our labor and how that effects businesses in our neighborhood, their employees, and abroad.