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42 sats \ 2 replies \ @Undisciplined 8 Apr \ parent \ on: The Practice of Non-Possessiveness FiresidePhilosophy
I think this is right, but I don't fully understand why.
We do know that inflationary money leads to lower quality goods (shrinkflation) and rewards high time-preference consumer behaviors. So, it stands to reason that deflationary money would result in the opposite.
I think it has less to do with deflation causing those things, than it does with people generally preferring them and being able to act on those preferences in the absence of inflation. In other words, inflation is a distortion.
It's so strange how my perspective has shifted. Inflation feels to obviously ridiculous now. What a lie I have been believing.
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In other words, inflation is a distortion.
Very good point. I'm sure no one mentally goes to the store thinking "I'm hoping to go buy a blender that I can throw away in 3 years because the cheap metal alloy used in the gears wears out". We would naturally prefer to buy a blender once.
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