Post
Topic
Board Economics
Re: Econmic Inequality
by
bitdraw
on 28/11/2014, 15:27:04 UTC
Nope, it's the corrupt politicians and bankers.  It's the monopoly on the ability to create money that is the problem, not capitalism.
Roll Eyes It's this kind of useless logic that works against progress, not for it.

Progress will only occur when people choose to opt out of the current fiat, debt-based monetary system.  Anyone trying to improve society within the current monetary system is just spinning their wheels.
I am sure a deflationary currency (like bitcoin) is the worst for society in general, it's just a brake on economic growth. -snip-
This is true. However bitcoin is not deflationary (yet). It will also technically be neither inflationary nor deflationary once all the bitcoin are mined as the number of bitcoin in circulation will never decline (at least not as part of the protocol).

Deflation is bad for the economy as it delays necessary purchases which slows economic growth

why is deflation delaying purchases?