/sci/ - Science & Math

>>14732810
No.
Things have value because we believe they do.

>>14732810
Paper, unbacked money is a shitty substitute; it's like using cigarettes or other crap for facilitating trade.
The excerpt is from The case against the FED

>>14732810
no but you should measure it as a value of time

>>14732957
How do gold bugs rationalize that inflation was higher under the gold standard than it ever has been since? How do they rationalize that they screamed about incoming inflation problems every year for a third of a century before finally being right (for the wrong reasons) in 2021?

How do they explain massive inflation during crop faliures and war in the Middle Ages?

>>14732810
define real.

>>14733680
We just conclude that you are illiterate retards.
The highest - unprecedented - economic growth in human history, called the industrial _revolution_ was accompanied by constant _natural_ deflation (natural means that it wasn't caused by artificial restriction of money supply by some central banks crooks).
Also, prices are constantly dropping _now_ in about the only sector which still develops decently, that is computers and electronics.

"You cannot serve both God and Money."
(Matthew 6:24)
This is because only one of those two is real.
Ergo, money is real.

>>14732810
No, it's nominal.

>>14732810
As real as score in a game

it's rational

>>14733706
The industrial revolution saw a much more rapid increase in prices than the centuries leading up to it.

You can only claim it had deflation if you claim that deflation isn't a decrease in prices, which is dumb because that isn't easy deflation is.

The last two times the US had serious deflation was after the 2008 financial crisis and during the Great Depression. These were not good times.

Yes, I'm looking at some coins over my nightstand right now.

>>14734269
Nonsense, mechanization dramatically decreased costs of production AND - which follows - prices.

>>14733685
if you can stick it up your ass, it's real

>>14734304
Most cars and large buildings aren't real by that criterion.

>>14734300
Btw, I was recently reading some website about history of fountain pens, here is the excerpt:
>12 1/4 cents ($1.47 per dozen) is a lot less than Williamson’s 100 cents per pen of just 20 years before. Prices are starting to come down, but they have a long way to go before they reach true mass-production levels. By 1843, the large stationer David Felt is selling his high-end pens for $1.50 per gross, the cheap ones go for 1 shilling (about 60-cents at the time) per gross.
https://thesteelpen.com/2017/11/13/pen-history-the-early-years-1830s-the-british-invasion/
It was everywhere and, contrary to what these fraudsters are "teaching" you was a sign of a tremendous growth, not the depression.

>>14734342
>Using prices adjusted to take out inflation

Also, inflation is about the price of all goods, not one good.

>>14734325
kek

>>14734304
Then yes, money is real. Glad I could help.

>>14732810
Ask the bar with my tab.

>>14733680
It's only inflation when the government does it.