• @[email protected]English
    10•2 days ago

    i love how inflation is just always magically a reason for companies to charge arbitrarily large sums for their products, how the hell do you people think people are supposed to afford things?

    seriously, if everything just constantly increases in cost, how precisely do you envision the economy functioning?

    • @[email protected]English
      4•2 days ago

      Long story short:

      • Keynes wrote a fairy tale about inflation raising wages and shortening the work week
      • Richard Nixon started inflation as we know it
      • Economists worldwide fell into line
      • Shockingly, wages didn’t go up, the work week didn’t shorten, and we now have record-breaking inequality (due to the Cantillon effect).

      To this day, people who paid to “learn” the fairy tale insist that inflation is good.