O’Brien acknowledges Biden has been a “great” president for organized labor. But he told the Globe that Biden hasn’t delivered on all his promises and the Teamsters are worried their backing is being taken for granted.
If a country’s monetary authority decides to increase the money in circulation (like what happened during Covid), which lowers demand because there’s now more of it, that’s certainly somebody influencing inflation. I’d like to hear how it’s not.
It’s not that hard. Think of it in terms other than money. You have a stick of gum. You want to trade this for a lollipop. That’s fine, you find someone with a lollipop and make the trade.
Next day, someone comes along with an infinite lollipop-making machine. People start handing out lollipops. The same guy from yesterday comes to you and wants to buy 15 more sticks of gum with his fresh lollipops he just got from the lollipop printer. Well, turns out, you’ve been amassing lollipops too because of this. You now demand 10 lollipops for the stick of gum, because you have the last three sticks and everybody including you are swimming in lollipops.
You’d have to be a complete idiot to continue selling sticks of gum for one lollipop, and if you are, you are definitely going to be taken advantage of and are going to get cleaned out of all your gum.
Economic forces don’t just stop existing when capitalism does. People will continue to be people. I say this as an anarchist.
there is no way you tested a bubblegum and lollipops economy with an infinite lollipop machine, and if you did, the results are not applicable to the economies of Venezuela or Zimbabwe
If a country’s monetary authority decides to increase the money in circulation (like what happened during Covid), which lowers demand because there’s now more of it, that’s certainly somebody influencing inflation. I’d like to hear how it’s not.
that’s story-telling. it’s a myth. everyone could have chosen not to accept higher prices, or levy them. then what? did “inflation” still happen?
It’s not that hard. Think of it in terms other than money. You have a stick of gum. You want to trade this for a lollipop. That’s fine, you find someone with a lollipop and make the trade.
Next day, someone comes along with an infinite lollipop-making machine. People start handing out lollipops. The same guy from yesterday comes to you and wants to buy 15 more sticks of gum with his fresh lollipops he just got from the lollipop printer. Well, turns out, you’ve been amassing lollipops too because of this. You now demand 10 lollipops for the stick of gum, because you have the last three sticks and everybody including you are swimming in lollipops.
You’d have to be a complete idiot to continue selling sticks of gum for one lollipop, and if you are, you are definitely going to be taken advantage of and are going to get cleaned out of all your gum.
Economic forces don’t just stop existing when capitalism does. People will continue to be people. I say this as an anarchist.
this is storytelling, it is not evidence of a testable causal relationship
It’s been tested. Many, many times in history. Weimar Republic. Zimbabwe. Venezuela.
there is no way you tested a bubblegum and lollipops economy with an infinite lollipop machine, and if you did, the results are not applicable to the economies of Venezuela or Zimbabwe