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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: neolib who wrote (91095)10/2/2007 1:39:03 PM
From: Elroy JetsonRead Replies (1) of 306849
 
I'm pretty sure you don't actually mean zero growth in the money supply, assuming a growing economy, do you?

Yes, that's exactly what I mean. It has provided the basis for economic growth for many civilizations for long periods of time. I think you're so accommodated to the inflation of monetarism that you can't imagine what capitalism looked like.

In practice, due to gold mining, the money supply traditionally did grow over time, but far more slowly than the growth of the economy.

The delights of a massive tax on savers subsidizing the banking system and government are a powerful lure just like an income tax with a high marginal rate. Your theory that it probably isn't possible to remain competitive on the world market, without an income tax with a high marginal rate or a monetarist tax in savings, is interesting. Wrong and amusing, but interesting.
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