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I don't think this doughnut road is something anyone advocates, nor does it translate to something like Q.E. Inflation by itself does a great thing: it reduces

I don't think this doughnut road is something anyone advocates, nor does it translate to something like Q.E. Inflation by itself does a great thing: it reduces the real value of old debt. Q.E. just distributes the cost of forgiving debt away from dead people to everyone in an economy. In other words, monetary policy lets us avoid the moral hazard of stealing from the past.

tsotha 14y ago
>Inflation by itself does a great thing: it reduces the real value of old debt. Inflation rewards debtors and punishes savers. That's not an unmitigated good thing. In fact, I would say it's mostly bad.