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Comment Re: Does this remove the "menu costs" argument (Score 0) 192

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 Re: Contributed to Moral Decay (Score 1) 92

you know, living is harmful to your life, every day is getting you closer to death. Eating many foods is harmful, drinking many things, breathing the air in many parts of the world and during different weather conditions. Having sex may be harmful, it can degrade your quality of life in the long term.

There are millions of harmful things, you will die and everyone else as well. I am not proposing for everyone to do everything, I am saying - if you enjoy it, don't allow people to dictate to you, do it.

Comment Does this remove the "menu costs" argument (Score 1, Interesting) 192

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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