[OT] Ameros will clog the tubes - was Re: Network Neutrality
dcrookston at gmail.com
Thu Dec 4 22:09:33 MST 2008
On Thu, Dec 4, 2008 at 11:06 PM, Von Fugal <von at fugal.net> wrote:
> That is exactly how it would NOT work. Say you have some unit called a
> foo that represents one gram of gold. Say over time growth causes 1 gram
> of gold to be too large a unit to do business efficiently with. (I don't
> want to think about thousanths of foos). What you then do not do is
> redefine a foo as 1/1000 of a gram, holders of foos would be up in arms!
> (yet in fact this is exactly what so called expanding the money supply
> (inflation) does). No, what you then do is create an entire new
> denomination, a bar, defined as 1/1000 of a foo.
That seems like kind of a naive view of economics. A small amount of
inflation is healthy. It means that everyone's money (the amount they
currently have) slowly becomes worth less, and that's bad, but the
overall benefit to everyone - including the person who's sitting on
their cash in various investments - is "better enough" (sorry I'm
operating on too little sleep, you know what I mean) to make up for
the slight loss of value. Besides, any investment that isn't beating
inflation isn't worth having your money in.
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