Re:Why inflation is not a threat
by loveistheanswer on Sunday March 14, 2021 @01:41PM
(#26457118)
>I think that another deception is that we should ordinarily be experiencing price deflation. Every day our society is getting more efficient at making things.
This is a great point.
The 3 main goals of the Fed[1] are:
1. Maximize employment
2. Stable prices
3. Moderate long-term interest rates
Maximizing employment and keeping prices stable are antithetical to the realities of automation and ephemeralization. If we want to use our automative technology correctly, we should be minimizing employmemt, and decreasing prices.
This is a great point.
The 3 main goals of the Fed[1] are:
1. Maximize employment
2. Stable prices
3. Moderate long-term interest rates
Maximizing employment and keeping prices stable are antithetical to the realities of automation and ephemeralization. If we want to use our automative technology correctly, we should be minimizing employmemt, and decreasing prices.
[1]https://en.m.wikipedia.org/wiki/Federal_Reserve_Act