@ClarkHat problem: means demand for goods includes demand for consumption+saving, leading to higher production.
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Replying to @ByrneHobart
@ClarkHat and then higher production -> inflation2 replies 0 retweets 0 likes -
Replying to @ByrneHobart
@byrneseyeview
@ClarkHat I probably don't understand your point, but if I do, then I think it's wrong.1 reply 0 retweets 0 likes -
Replying to @random_eddie
@random_eddie@ClarkHat easiest to model w/a one commodity economy. Suppose we save in terms of goats.1 reply 0 retweets 0 likes -
Replying to @ByrneHobart
@random_eddie@ClarkHat what does that saving do to the demand for total goats, or the "price" of goat meat?3 replies 0 retweets 0 likes -
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Replying to @ClarkHat
@ClarkHat@random_eddie is the IOU a demand deposit? If so it's just a title doc. If not, introduces credit risk.2 replies 0 retweets 0 likes -
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Replying to @ClarkHat
@ClarkHat@random_eddie not just credit risk—Gresham's Law. Not all goats are equal, so only low-quality-goat-backed notes will circulate.1 reply 0 retweets 1 like
To be overly literal, I'm listening to goat-currency topic, thinking "that'd drive up farm prices!" @byrneseyeview @random_eddie @clarkhat
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