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There's a lot that can be said on this topic (I'm even tempted to make the argument that borrowing is indeed, in most cases, more noble than saving), but I just
by kybernetikos 13y ago
There's a lot that can be said on this topic (I'm even tempted to make the argument that borrowing is indeed, in most cases, more noble than saving), but I just want to pick you up on one point. When you say 'save', it's not clear whether you're talking about hoarding (where the money is no longer doing anything useful in the economy) or investing (where the money is still part of the economy). Inflation doesn't punish those whose savings are invested, in fact it rewards them, it does however punish those whose savings are hoarded.
- snitko 13y agoI talk about hoarding and there's nothing wrong with that. If you want a new house or a new car, I think saving money until you have enough is a much nobler way to do it. When you say that "money should work and do something useful in the economy" what you're actually saying is that they should work "now". Hoarder's money will work just the same when he decides to spend them. Thus, what you have to discuss here is not hoarding, but rather "spending now" vs "spending later". Why do you think the former is superior to the latter?