

Why does fiat money seemingly work? (2007) - nkurz
http://globaleconomicanalysis.blogspot.com/2007/06/why-does-fiat-money-seemingly-work.html

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prodigal_erik
> the shameful secret of the welfare state is that it makes irresponsible
> slaves out of previously free and responsible people

> The actual producers of wealth are a very small group

So in the absence of the welfare state, what happens to the vast majority who
are allegedly not producers of wealth?

> the free market tends to consistently lower the prices of goods and services
> over time

Not only is this a recipe for deflation (which the article doesn't address at
all), but I don't see how it could be true with growing population and
diminishing resources allocated through competition.

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tzs
Gold : Economics :: Creationism : Biology

