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Constitution Class - Happy 4th of July (pg. 24)
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| Comrade Stalin |
| quote: | Originally posted by DOOMBOT
My point was made when I quoted pkc. Go back and read it. |
This?
"You just made a critical error. How can printing more money make up for the loss in purchasing power when printing more money does exactly that; creates a loss in purchasing power."
An employer giving wage increases for the cost of living is not "printing money to make up for the loss of purchasing power". If you are a worker who doesn't get periodic raises, a promotion, or a better job, as time goes by, you must have a ty job. Low inflation is easily met by increased wages to make up for it. People aren't paid $.05/hr anymore! |
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| DOOMBOT |
| quote: | Originally posted by Comrade Stalin
This?
"You just made a critical error. How can printing more money make up for the loss in purchasing power when printing more money does exactly that; creates a loss in purchasing power."
An employer giving wage increases for the cost of living is not "printing money to make up for the loss of purchasing power". If you are a worker who doesn't get periodic raises, a promotion, or a better job, as time goes by, you must have a ty job. Low inflation is easily met by increased wages to make up for it. People aren't paid $.05/hr anymore! |
If it is so easily met, why is the method not working?
On wage rates: http://mises.org/daily/4550 |
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| Comrade Stalin |
I searched for the word inflation in that article you threw at me without telling me what I am supposed to take out of it, and I didn't find a single use of the word. So obviously, inflation isn't the problem, is it? According to your article, it does nothing but show how taxes can keep wages down, and how the worker is essentially at the mercy of their employer. You haven't done anything to answer the point that low inflation is easily met by wage increases, even with payroll taxes, and the like. Even a McDonald's worker today is paid more than twice the wage they would have been paid in the 1970's.
By the way, I am no less alarmed at the growing gap between CEO pay and average worker pay, than I assume you are. |
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| iTranscendence |
| quote: | Originally posted by Comrade Stalin
Every single one of your posts ever made on TA.
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| DOOMBOT |
| quote: | Originally posted by Comrade Stalin
I searched for the word inflation in that article you threw at me without telling me what I am supposed to take out of it, and I didn't find a single use of the word. So obviously, inflation isn't the problem, is it? According to your article, it does nothing but show how taxes can keep wages down, and how the worker is essentially at the mercy of their employer. You haven't done anything to answer the point that low inflation is easily met by wage increases, even with payroll taxes, and the like. Even a McDonald's worker today is paid more than twice the wage they would have been paid in the 1970's.
By the way, I am no less alarmed at the growing gap between CEO pay and average worker pay, than I assume you are. |
I posted the article as a sort of off topic reading. You mentioned wage rates in a previous reply and it reminded me of the article which I just read yesterday, so posted it.
Anyway, back to what we were discussing. :) |
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| Comrade Stalin |
| So you then agree that inflation can be both good and bad, but if kept low, is mostly beneficial to the overall economy. |
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| trancypantzzz |
| i don't know about that constitution, but i do know where lebron james will play basketball next year. |
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| DOOMBOT |
| quote: | Originally posted by Comrade Stalin
So you then agree that inflation can be both good and bad, but if kept low, is mostly beneficial to the overall economy. |
Money should consist of competing currencies, just like any other good or service would on the market. So if the market demands more currency, sure, you would have an increase in the money supply. For example, if the market chose gold as a currency and demanded more, miners would find ways to extract more gold. What I do not agree with is a single entity forced on the market by law to control the money supply, like the Federal Reserve system. So inflation created in that sense is not only bad but dangerous.
This is pretty scary:
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| DOOMBOT |
| You're doing it wrong. |
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| pkcRAISTLIN |
| quote: | Originally posted by DOOMBOT
You're doing it wrong. |
yeah, wont let me embed for some reason. im a net noob though, so could be my own fault ;) |
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| st3nc |
| the US inflation rate is equivalent to my dicksize with your girl |
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