Most people imagine inflation to be a natural affliction. In reality, inflation is a man-made phenomenon... simply the debasing of currency.
@ErikVoorhees @BrendanEich productivity changes affect the value of money too.
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@wycats Yes, but deflationary.@ErikVoorhees -
@BrendanEich@ErikVoorhees productivity decreases would produce natural inflation. Is deflation good? -
@wycats@BrendanEich Productivity decreases would produce natural price increases. Price increases =/= inflation. -
@ErikVoorhees Right. First problem: many suffer "exogenous money" mystery-cult beliefs. Money is endogenous. http://en.wikipedia.org/wiki/Endogenous_money …@wycats -
@BrendanEich@wycats People need to stop equating inflation with price increases. The former usually causes the latter, but they are dif. -
@ErikVoorhees@BrendanEich this is pretty much a tell that you're in the gold standard camp. Can't just change common meaning. -
@wycats@BrendanEich I don't think governments should implement "standards" for money any more than standards for religion, sex, and food. -
@ErikVoorhees@BrendanEich I don't mind the FDA. - 3 more replies
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