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This is complete nonsense. The purpose of inflation as a policy is to increase employment by decreasing the real cost of labor: in short, it's sneakily steali
by throwawaymaths 3y ago
This is complete nonsense. The purpose of inflation as a policy is to increase employment by decreasing the real cost of labor: in short, it's sneakily stealing money from the labor class to keep the employment metric high.
This is the primary cause of the poor getting poorer. Greed has nothing to do with it. Greed is linear. O(n). Inflation compounds. O(e^n).
- Nevermark 3y agoI don’t know what “Greed is linear” means. Greed is unbound, if it is really greed. And it’s exponential, if it simply means ambitious and wise use of resources. I would ditch the psychology economic babble. There is certainly a case to be made that increasing employment by expanding the money supply is an addictive short term fix paid for with predictable long term damage to the purchasing power of existing laborers. Inflation leaves valuable assets just as valuable, but undermines fixed or sticky income streams.