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It would be kinda funny if not so tragic how economists will argue both "[productive improvement] will make things cheaper" and then in the next breath "deflati
by jordwest 10mo ago
It would be kinda funny if not so tragic how economists will argue both "[productive improvement] will make things cheaper" and then in the next breath "deflation is bad and must be avoided at all costs"
- actionfromafar 10mo agoBut is it really, though? Dollars aren't meant to be held.
- jordwest 10mo agoI think the idea of dollars as purely a trading medium where absolute prices don't matter wouldn't be such an issue if wages weren't always the last thing to rise with inflation. As it is now anyone with assets is only barely affected by inflation while those who earn a living from wages have their livelihood eroded over time covertly.
- actionfromafar 10mo agoExactly as the current owners… ahem, leaders of this country want it.
- samdoesnothing 10mo agoBarely affected? They benefit massively from it. That is why the rich get richer.
- jordwest 10mo agoTrue, in terms of share of the pie for sure