Right, it's clearly a matter of degree and the thing is I don't hear economists talking about this, only the general public, who has some sort of warm fuzzy feeling about the idea of free money, but little actual talk about what's going to happen.

My feeling is that it will either be too low to be meaningful or too high and it'll lower the production of useful things to buy, such that we're actually poorer in some sense in spite of it. I certainly agree with you about the fact that the production of the things we buy with money being more important than the rectangular pieces of paper, though.

So I actually think it can work out for a country like Norway, that's small and rich and which imports plenty of physical goods from elsewhere with oil money, and therefore where it honestly doesn't change much of anything. It's what happens when everybody does it that I wonder about.

But maybe I'm wrong and it will just end up outsourcing all the labor to China / Mexico / SE Asia / wherever with a manageable inflation and we'll muddle through somehow. I don't really know, which is why I'm disturbed that I see so few people who seem to have any good idea about the actual effects talking about it.