Liberals, including me, got inflation wrong

Author: Tejretics ,

Posts

Total: 52
cristo71
cristo71's avatar
Debates: 0
Posts: 338
2
2
3
cristo71's avatar
cristo71
2
2
3
--> @secularmerlin
It is nonsense to say that this non value has changed.
False. The proof is you will not part with all, or even half of your alleged valueless money for no value in return.

The value of money is defined by what you can exchange it for. When you need more money this year than last year to exchange it for the same goods, that money is indeed losing its value.


Reece101
Reece101's avatar
Debates: 1
Posts: 1,415
3
2
2
Reece101's avatar
Reece101
3
2
2
--> @secularmerlin
IF everything costs exactly what we will pay for it (i.e. what we believe it is worth) THEN inflation is the mass delusion that everything in the world is more valuable today than it was yesterday. 
You don’t think some things don’t have intrinsic value?