Re:I watched a friend of mine pump a shitcoin on Binance by ...
by throwawaymaths on Tuesday July 12, 2022 @09:01PM
(#32077806)
> Since the price of apples decreases with growth, a farmer needs to cut costs to remain profitable.
No? The cost of inputs will also go down?
> The aim is to avoid a deflationary collapse
I am literally quoting him in the article. It may be that the aim is to prevent a "deflationary collapse", but it's still inextricably "trying with no guarantee it will work to prevent a deflationary collapse specifically by cheating laborers out of their wages"
It's even encoded in your explanation: you are preoccupied with saving the farmer's skin, not with being fair to the laborer.
For the record, I am no Marxist, I'm very much an advocate of free markets, I just don't like cheating laborers. Inflationism is basically just corporatism/trickle down, made palatable to liberals.
No? The cost of inputs will also go down?
> The aim is to avoid a deflationary collapse
I am literally quoting him in the article. It may be that the aim is to prevent a "deflationary collapse", but it's still inextricably "trying with no guarantee it will work to prevent a deflationary collapse specifically by cheating laborers out of their wages"
It's even encoded in your explanation: you are preoccupied with saving the farmer's skin, not with being fair to the laborer.
For the record, I am no Marxist, I'm very much an advocate of free markets, I just don't like cheating laborers. Inflationism is basically just corporatism/trickle down, made palatable to liberals.