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Comment Re:Here's a whack idea (Score 1) 79

Let me see... I have never seen an ad for vapes. Or promotions of vapes. Yeah you see shops on the street but that is not the problem here. The problem is peer pressure, And it always has been, From cigarettes to alcohol. Nothing will ever change this. So all this shit about this that and the other "measures" isn't going to change anything. You cannot, And I mean CANNOT control free will. It just is NOT going to happen.

Comment Re: Does this remove the "menu costs" argument (Score 0) 193

Cost of living adjustments for everything including savings?

Ai: "According to Fischer and Modigliani (1978), a fully indexed economy is an idealized system where all financial contracts, tax systems, and accounting procedures automatically adjust for inflation, neutralizing its real economic effects. This framework assumes nominal institutions, such as tax systems and debt contracts, are replaced with real-terms adjustments that keep real interest rates constant. Read the full NBER paper at nber.org."

Comment Good for basic income, no? (Score 0) 85

Unless this is really about fidelity to economics and not software, can you imagine the pure engineering productivity unleashed if engineers had a decent guaranteed inflation-proofed basic income and didn't have to listen to bosses telling them to artificially restrict access and features due to advertiser pressure?

Comment Re: Does this remove the "menu costs" argument (Score 0) 193

Then why did Modigliani and Fisher say in their 1978 paper "Towards an understanding of the real costs of inflation": "The traditional view that because money is neutral, inflation produces no appreciable real effects is shown to hold approximately only for an economy whose institutions are fully inflation proof, e.g. a fully indexed one.", and why can't we fully index the economy?

Why did Israel use full indexation for decades while increasing their standard of living? What if the decision in the 1980s to use price controls instead of indexation was an arbitrary mood; why couldn't they have kept indexation going forever (they still use it today in fact)?

If your income goes up immediately with prices, why would you care about nominal inflation, because even if gas went to $10/gallon your income increase would allow you to buy the same amount you always did without losing any money?

Since the US currency has lost some 90+% of its value since the country's founding, yet the US is the world's premier superpower, hasn't indexation been used implicitly to keep real purchasing power rising even as nominal inflation has risen?

Do you just have a mood affiliation against indexation and no sound argument?

Comment Does this remove the "menu costs" argument (Score 1, Interesting) 193

Does this tech eliminate the key objection to printing basic income money faster than prices rise, that "menu costs" become negligible?

If you get a printed basic income and stores raise prices costlessly and your income goes up in lockstep, why can't you forget about nominal inflation and convert nominal prices to units of real purchasing power, which won't change under an indexation scheme, no matter how fast nominal prices may rise?

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