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>What I mean is, when everyone has a baseline amount of money, the relative scarcity is diminished and the market prices will inflate as the value of money(real
by alexeisadeski3 13y ago
>What I mean is, when everyone has a baseline amount of money, the relative scarcity is diminished and the market prices will inflate as the value of money(real & perceived) decreases.
"Inflation is always and everywhere a monetary phenomenon"?
- tunap 13y agoI had to Goog it, but I guess you're questioning whether I refer to... https://en.wikipedia.org/wiki/Monetarism https://en.wikipedia.org/wiki/Monetarism I guess so, I am not an economist. That seems to be the cycle repeated since the dawn of human interactions, however. With scarcity comes demand, market sets price... and the rest of the spiel. A game that has been gamed long before we came along, but yeah, that seems to be how it works historically.
- alexeisadeski3 13y agoYour previous post claims that guaranteed minimum income may cause inflation. I replied with a quote that inflation is always and everywhere caused by monetary changes. My point thus being that a guaranteed minimum income would not cause inflation. Prices change in response to market forces, yes. But micro price changes are not inflation. Inflation is a macro level phenomenon, caused "always and everywhere" by monetary changes (debasement etc).