Crypto is literally just machines wasting energy on purpose to create false scarcity
A monetary system that is designed to lead to eternal, cancerous growth through intentionally inflating the money supply is far worse.
I’d love to see any evidence or logical arguments that an inflationary economy is worse than a deflationary one.
I’d love to see any evidence or logical arguments that an inflationary economy is worse than a deflationary one.
Don’t you understand that artificially induced unlimited growth is bad? It’s not about inflation or deflation, but the outcome.
https://www.ecb.europa.eu/mopo/strategy/pricestab/html/index.en.html
The main task of the ECB is to maintain price stability. The ECB’s Governing Council considers that price stability is best maintained by aiming for 2% over the medium term. Price stability creates conditions for more stable economic growth
I mean, I don’t disagree with you on that. I didn’t think your first comment quite conveyed this nuance, and deflationary economies are terrible for everyone.
deflationary economies are terrible for everyone
That’s a myth spread by modern monetary theorists because they only understand the economy from an inflationary perspective. Economies worked fine for millennia without inflationary money.
I don’t think local economies from millennia ago are similar enough to compare to modern global economies with our current population boom. I think we could for sure have a different approach if our population was stable or decreasing.
worked fine for millennia without inflationary money
That means until the early 1900s or 1970s when inflation went into overdrive.
our current population boom
Huh what?
That means until the early 1900s or 1970s
What a wide window, but I’d like to point out that the baby boomers generation happened right around this time.
Huh what?
Fertility rates and total population numbers are not the same thing.
Inflation is only a recent phenomenon.
https://nma.org/wp-content/uploads/2016/09/historic_gold_prices_1833_pres.pdf
Inequality since Nixon because of the Cantillon effect
