Quote from: dennydotco on August 07, 2014, 05:03:31 PM

Quote from: Adrian-x on August 07, 2014, 06:31:17 AM

I won't judge stupid behavior (here I am feeding the troll) but if products and services get cheaper and cheaper (price deflation) only stupid people would risk buying 1 car today when they can buy 2 better cars for the same price next year.

Re read that Hayek book you were given at school.

Unless they need a car. If I need a car I will buy when I need it no matter what that money can do in the future, because I need it now. If I merely would like a better car, but could wait for that better car another year or two while their price drops/my purchasing power rises I will wait. This seems like it would be good for the world to deter overconsumption, build more rugged products in the first place, and maintain what we already have.

Bang on. Now if your money supply is dependent on debt and interest payments to bond holders this situation represents a deflationary death spiritual, but to a finite world it represent deferred and appropriate consumption, your point proves the Austrian model is viable.