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I'm not sure we do agree. :) I would say that there is a difference between an increase in the amount of money for the same actual wealth, and an increase in t
by randallsquared 18y ago
I'm not sure we do agree. :) I would say that there is a difference between an increase in the amount of money for the same actual wealth, and an increase in the wealth itself. One is inflation, and the other is growth. Growth can mean that everyone is rich by the standards of previous times in terms of how much of everything they can afford, which could be reflected in the prices for everything dropping. Universal prosperity in computing hardware, for example, has resulted in exactly the opposite of the price inflation you seem to expect.