Progressive Politics

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TokenBoomer@lemmy.world

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Mamdani balanced the NYC budget (lemmy.zip)

submitted 6 days ago by favoredponcho@lemmy.zip to c/progressivepolitics@lemmy.world

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[–] AppleTea@lemmy.zip 4 points 5 days ago (1 children)

How do you account for growth in the real economy, then? Spain invaded and obliterated the cultures of a whole continent in part because they didn't have enough silver to match their accounting books.

I get that we have a problem with venture capital and defense contractors having access to the federal money spigot, but putting an arbitrary cap on the monetary supply will just impose a new set of problems.

[–] thedeadwalking4242@lemmy.world 2 points 5 days ago

Unlike gold and silver our token based monetary system allows you to split money into increasingly small units.

So as the economy improves the currency would deflate. That's becomes an entire separate discussion.