Right, but if you're not using the currency internationally? What'd PPP look like btw 2 areas using 1 currency @ 2 values?
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Replying to @garrettlgray @380kmh
I don't know the answer to that hypothetical, I don't even know if empirical evidence backs Alex & I up on this tbh.
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but currencies are used internationally, none more so than the US $
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Wouldn't a standard currency for intntl exchange (like $) mitigate the effects we're considering anyway?
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If everybody's denominating their trade in the same currency, where's the differential feedback come in?
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Replying to @garrettlgray @380kmh
inflation due to rising (real) affluence in some areas experienced to a lesser but still real degree by lesser regions
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Inflation is a different issue than the one Alex is describing, i think, but a good thread to pursue if y'all want.
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Replying to @garrettlgray @robvfour
inflation is half of what I'm describing--the other half is insufficient work inflation + unemployment
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Ok then I'm back to not understanding what "feedback" causes this stagnation lol TBF tho I've not studied economics in yrs
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read the Jacobs book and we'll at least be on the same page--even if it just better equips you to fight her argument
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Yessir! Is it public domain?," he asked, knowing the answer wouldn't be the one he wanted.
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Replying to @garrettlgray @robvfour
sadly no...but it's cheap on Amazon https://www.amazon.com/Cities-Wealth-Nations-Principles-Economic/dp/B010BFPSBO/ref=sr_1_2?ie=UTF8&qid=1487111469&sr=8-2&keywords=cities+and+the+wealth+of+nations+principles+of+economic+life …
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