So we concluded in last post with the understanding, we don’t have a clarity on what even a ‘Money’ is.
oh Wait! You are from Economy background? You read Economics in your College as your major. That’s great to hear. I am sure you know how the following Economic theories define Money, Inflation, Deflation, etc., Right?
- Classical economics.
- Keynesian economics.
- Austrian school of economics.
- Malthusian economics.
- Marxism.
- Laissez-faire capitalism.
- Market socialism.
- Monetarism.
No? What do you mean by No?
You don’t even know such a diverse set of Economic theories exist? That’s Unbelievable!
As a school kid, In Physics, I remember reading about both Classical physics (Newton era) and Modern physics (Einstein era). But someone who is doing Economics in college, not read about different Economic theories?! That’s super fishy.
Anyways, my focus is not why certain knowledge is skipped in the entire Economic academia. That’s upto the readers to ponder upon. Do share me your thoughts in the comments.
Let’s look at this Video to see why Inflation is Evil:
Some memes that conveys the point, Crystal clear:
In 2010 (Slice 2), You still have the same 1 slice of Pizza. But the govt managed to make it less valuable, by slicing down the whole economy. Printing new Money.
In 2020 (Slice 3), You still have the same 1 slice of Pizza. But it values much less now. Thanks to our Govt. and their Inflation
With Bitcoin, Inflation (/evil) cannot happen. How Bitcoin ensures that? We will see in upcoming posts.
