Hacker News new | past | comments | ask | show | jobs | submit login
The Quantitative Easing (and Fall) of the Roman Empire by Malchow and Thiel [pdf] (static1.squarespace.com)
7 points by maverick_iceman on July 14, 2016 | hide | past | favorite | 2 comments



That was worth the 20 minutes to read. No new information, but reinforces the problems of debasing fiat monies.


The reason we (as a society) inflate currencies is because of "sticky wages". People are loss averse and react much worse to a 5% pay cut than positively to a 5% pay rise.

Because of this, businesses needing to adjust downwards because of competition/technology/market changes can't.

Inflation is a solution to this problem




Guidelines | FAQ | Support | API | Security | Lists | Bookmarklet | Legal | Apply to YC | Contact

Search: