The Quantitative Easing (and Fall) of the Roman Empire by Malchow and Thiel [pdf]

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That was worth the 20 minutes to read. No new information, but reinforces the problems of debasing fiat monies.

The reason we (as a society) inflate currencies is because of "sticky wages". People are loss averse and react much worse to a 5% pay cut than positively to a 5% pay rise.

Because of this, businesses needing to adjust downwards because of competition/technology/market changes can't.

Inflation is a solution to this problem

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