27. The Underlying Technology Behind Fiat Standard
The Bitcoin Standard Podcast
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Is the Danish Corona Back to the Euro?
The luxury goods and the scarce, they're going to reflect this because the new money is going to compete for them. And then things that are not very scarce or unspecialized labor or basic real estate, these things would witness slower and slower inflation. So you see very low inflation or you see deflation there. That's really, I think, how we can think of inflation. In order to make the fiat standard work, we're constantly having everybody have a strong incentive to get into debt. People are losing the economic progress that we were beginning to take for granted in the 19th century and the early 20th century,. But it's becoming clear that with inflation, maybe we don't
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