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10 sats \ 1 reply \ @denlillaapan OP 17 Dec \ parent \ on: MONEY CLASS OF THE DAY: “The Cost of Living” Is a Stupid Phrase econ
True true true -- I did call it an Angel Gabriel story, per Rothbard, so that nobody would confuse this hypothetical for credit creation in the real world.
Still, the cantillon effect is a different rabbit hole and makes for somewhat different outcomes about who's harmed and who benefits
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0 sats \ 0 replies \ @Rothbardian_fanatic 17 Dec
You betcha! Somehow people seem to overlook this effect whenever they talk this way about inflation. They also do not take into account of differing valuations when people think they have more money. The wealth effect is somewhat the same.
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