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Notably, the 'massive inflation' was a rate of 1-1.5% per year...
by nickff 10mo ago
Notably, the 'massive inflation' was a rate of 1-1.5% per year...
- AnimalMuppet 10mo agoWhich, for the gold standard, is still rather shocking.
- SoftTalker 10mo agoWell only with a fairly fixed amount of gold available. If suddenly a vast new supply of gold is discovered, its not shocking that there would be inflation.
- colechristensen 10mo agoSince the industrial revolution productivity has actually been increasing and automation continues to make this happen. If you don't have a mechanism for productivity increase matching your inflation it's just making whoever is creating the new money temporarily proportionally wealthier until the money spreads everywhere.