Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
LMGTFY
on 13/09/2015, 16:26:31 UTC
Economists have know for 500 years that a currency must have some inflation, otherwise people will hoard it and it will not be available for use as a currency.

What economists advocated this position in 1515?

I've never come across these scholars in my actual academic work, or even the notion of economics as a discipline per se existing at that time...

Guess they don't teach everything @ DeVry School of Janitorial Science Undecided
You may continue your smartification learnings here: https://en.wikipedia.org/wiki/History_of_economic_thought

Presumably you're referring to Jean Bodin (he's the only person in the relevant period where Wikipedia mention inflation)? I don't recall Bodin arguing that currency must have some inflation, only that inflation - where it existed - had a cause (he pointed to bullion importation from the New World as the cause in his time). My memory is hazy, though, and I do remember not really covering the pre-Classical economists much, because economics as a discipline didn't really get going until Adam Smith et al.