06-01-2016, 04:29 AM
(05-31-2016, 09:07 AM)Kinser79 Wrote: I would also say that the very same people think that capital materializes from thin air, when capital is derivative from savings. Inflation not only harms the poor by preventing their consumption through the erosion of the currency's value but it also disincentiveizes savings for those who are not poor making capital harder to accumulate and eventually leading to economic stagnation which also harms the poor.
In short, it seems to me that if one wants to actually help the poor the first step is to abandon funny money and adopt either hard currency or a currency that is defined and convertible into specie.
From an economic point of view this is correct but then it would admit that the god of the liberals and progressives has limits. That is blasphemy in the religion of the liberals and progressives.
Democracy is the theory that the common people know what they want, and deserve to get it good and hard. -- H.L. Mencken
If one rejects laissez faire on account of man's fallibility and moral weakness, one must for the same reason also reject every kind of government action. -- Ludwig von Mises
If one rejects laissez faire on account of man's fallibility and moral weakness, one must for the same reason also reject every kind of government action. -- Ludwig von Mises