logoalt Hacker News

AnimalMuppetlast Friday at 10:00 PM2 repliesview on HN

Which, for the gold standard, is still rather shocking.


Replies

SoftTalkerlast Friday at 10:30 PM

Well only with a fairly fixed amount of gold available. If suddenly a vast new supply of gold is discovered, its not shocking that there would be inflation.

colechristensenlast Friday at 11:52 PM

Since the industrial revolution productivity has actually been increasing and automation continues to make this happen.

If you don't have a mechanism for productivity increase matching your inflation it's just making whoever is creating the new money temporarily proportionally wealthier until the money spreads everywhere.