"The goal of the future is full unemployment, so we can play." – Arthur C. Clarke, 1969.
It isn’t right to think that giving people more money will entail rising prices. As I’m sure you’re aware, increased demand can lead to sizably increased production, which in turn leads to lower prices. It is the production rate and how much it can be pumped up in response to an increase in demand that is the key factor in price resolution. When the supply cannot be increased (or match the demand), there is more money chasing the same amount of goods and […]
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