logoalt Hacker News

FeepingCreaturetoday at 1:00 PM1 replyview on HN

The point of money is not to reward delayed gratification. The point of money is to efficiently tabulate human preferences, and deflation directly counteracts this by introducing potentially unbounded latency at every step. That's why it destroys economies, as it has throughout history.


Replies

benenrjdnztoday at 1:03 PM

Can you provide an example of deflation destroying an economy in history? There are many more examples of inflation destroying economies.

show 5 replies