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typo fix, word choice change
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teldon james turner
teldon james turner
  • 99
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because official government published inflation statistics are just as artificial as the fiat currency value they intend to measure. according to those statistics, "a loaf of bread" has gone up in price dramatically in the last 100 years. but realistically, i think it would have cost hundreds of dollars to get a loaf of bread of the same quality and consistency as cobblestone bakery's "million dollar white bread" way back in 1916. that simple everyday example doesn't even begin to account account for the price of important stuff like pharmaceutical grade penicillin.

it is a shameunfortunate that people use the word "real" to refer to inflation-adjusted numbers, as if they are somehow more realistic. life is getting better due solelyalmost exclusively to technological advancement. that advancement makes everyone richer. arguably, it has been more useful to centralized systems (e.g. governments and large corporations) in the past few thousand years. however, i for one am hopeful that the next few hundred years will be characterized by more decentralizing technology (e.g. the internet, bitcoin, etc.) that will be more beneficial to the "common man".

because official government published inflation statistics are just as artificial as the fiat currency value they intend to measure. according to those statistics, "a loaf of bread" has gone up in price dramatically in the last 100 years. but realistically, i think it would have cost hundreds of dollars to get a loaf of bread of the same quality and consistency as cobblestone bakery's "million dollar white bread" way back in 1916. that simple everyday example doesn't even begin to account account for the price of important stuff like pharmaceutical grade penicillin.

it is a shame that people use the word "real" to refer to inflation-adjusted numbers, as if they are somehow more realistic. life is getting better due solely to technological advancement. that advancement makes everyone richer. arguably, it has been more useful to centralized systems (e.g. governments and large corporations) in the past few thousand years. however, i for one am hopeful that the next few hundred years will be characterized by more decentralizing technology (e.g. the internet, bitcoin, etc.) that will be more beneficial to the "common man".

because official government published inflation statistics are just as artificial as the fiat currency value they intend to measure. according to those statistics, "a loaf of bread" has gone up in price dramatically in the last 100 years. but realistically, i think it would have cost hundreds of dollars to get a loaf of bread of the same quality and consistency as cobblestone bakery's "million dollar white bread" way back in 1916. that simple everyday example doesn't even begin to account for the price of important stuff like pharmaceutical grade penicillin.

it is unfortunate that people use the word "real" to refer to inflation-adjusted numbers, as if they are somehow more realistic. life is getting better due almost exclusively to technological advancement. that advancement makes everyone richer. arguably, it has been more useful to centralized systems (e.g. governments and large corporations) in the past few thousand years. however, i for one am hopeful that the next few hundred years will be characterized by more decentralizing technology (e.g. the internet, bitcoin, etc.) that will be more beneficial to the "common man".

Source Link
teldon james turner
teldon james turner
  • 99
  • 3

because official government published inflation statistics are just as artificial as the fiat currency value they intend to measure. according to those statistics, "a loaf of bread" has gone up in price dramatically in the last 100 years. but realistically, i think it would have cost hundreds of dollars to get a loaf of bread of the same quality and consistency as cobblestone bakery's "million dollar white bread" way back in 1916. that simple everyday example doesn't even begin to account account for the price of important stuff like pharmaceutical grade penicillin.

it is a shame that people use the word "real" to refer to inflation-adjusted numbers, as if they are somehow more realistic. life is getting better due solely to technological advancement. that advancement makes everyone richer. arguably, it has been more useful to centralized systems (e.g. governments and large corporations) in the past few thousand years. however, i for one am hopeful that the next few hundred years will be characterized by more decentralizing technology (e.g. the internet, bitcoin, etc.) that will be more beneficial to the "common man".