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Money is not wealth, money is the representation of wealth. Creating more currency does not increase the value available within an economy. Creating more money
by ctdonath 13y ago
Money is not wealth, money is the representation of wealth. Creating more currency does not increase the value available within an economy. Creating more money without creating more value for it to represent just results in inflation.
A gallon of gas is (all else equal) worth about 20 minutes of mundane labor. Printing more money and legislating the gas station attendant's pay to $60/hour will just result in gas costing $20/gallon.