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    Cory Doctorow (pluralistic@mamot.fr)'s status on Saturday, 24-Feb-2024 19:29:56 JSTCory DoctorowCory Doctorow
    in reply to
    • Jorge Stolfi
    • Pax Ahimsa Gethen
    • immibis
    • Preston Is Not My Real Name
    • Roderick
    • karen coyle
    • Wayne Smith

    @theoldbeginner @JorgeStolfi @prestontumber @rvkennedy @immibis @funcrunch @kcoyle

    You have missed the point: supply-constrained currency MUST fluctuate when demand changes. If you can't expand the pool of currency available when the economy grows, then the value of currency shoots up (deflation) and if you can't annihilate money when the economy shrinks, the value plummets (inflation).

    The point of a central bank is to adjust monetary supply to maximize stability.

    In conversationabout 9 months ago from mamot.frpermalink
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