Re:Why inflation is not a threat
by BurningFrog on Sunday March 14, 2021 @04:48PM
(#26459006)
I think this view of hoarding is wrong. Here is how I think about it:
You get money as compensation for goods or services you provide to other people. The money is a sort of "IOU note" from the rest of society.
If you never spend the money, you've chosen to never cash in the debt. You're essentially gifting that money to the world.
There are a lot of complex and dynamic systems at work in the economy, and it's easy to make good sounding arguments for and against anything. I find it helpful to think of the fundamentals.
You get money as compensation for goods or services you provide to other people. The money is a sort of "IOU note" from the rest of society.
If you never spend the money, you've chosen to never cash in the debt. You're essentially gifting that money to the world.
There are a lot of complex and dynamic systems at work in the economy, and it's easy to make good sounding arguments for and against anything. I find it helpful to think of the fundamentals.