Comment Re:Well, we're at the fighting stage I guess (Score 1) 240
The wealthy are getting more wealth and the poor are basically screwed. they are rapidly on the way to becoming a permanent dependent underclass.
...so how would implementing a deflationary currency, where people who control wealth are given strong incentive to simply sit on it, make this any better?
Today, the wealthy make more money by reinvesting it and reaping the benefits. While this perpetuates the increasing disparity between the wealthy and the poor, it at least forces their wealth to circulate through society.
You make things deflationary, then the wealthy will simply sit on their pre-existing heaping hoards of wealth, as it's effectively guaranteed to increase in value, risk-free. They'll have enough wealth to continue to live like gods, but instead of having to send their money off to other people as risky investments, they'll be able to simply make sure to never spend their hoard faster than it appreciates in value. It's like living off the interest, but they get that interest by doing exactly nothing with their wealth. You would create an entire class of people who would control the substantial majority of human wealth and would have strong incentive to completely disconnect themselves from productive activity.
How on earth does that make the disparity between rich and poor better?