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75 sats \ 11 replies \ @SimpleStacker 13h \ on: Inflation: Slowly the Middle-Class Dies econ
Has anyone written a theory about how democracy and fiat-money economies don't mix well?
I wonder if the success of democratic countries was predicated on not being able to vote to print money (directly or indirectly).
Has anyone written a theory about how democracy and fiat-money economies don't mix well
Results tend to be much worse under tyrannical regimes actually. Better said, tend to arrive to the same final state much faster. So it has nothing to do with democracy, it's all on fiat's merit.
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I suppose the reasons would be slightly different: i.e. the democracy will print money trying to buy voters with freebies more than the tyrannical regime.
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It's the same dynamic: a demagogue democratic government will buy voters the exact same way a tyrannical regime needs to keep its controlling structure alive. It ends up being the exact same kind of government spending for the exact same purpose: buying enough of the population in order to be able to subjugate and exploit the other part. In both cases, due to the unproductive nature of the strategies, both a democratic and a tyrannical regime end up needing to emit more and more to support an ever increasing controlling structure in order to keep control under an ever increasing economic crisis. It's the exact same death spiral every single time.
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good point
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I know I've seen pieces on that topic, but there aren't any that come to mind specifically.
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Murray Rothbard if I recall correctly
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I'm sure he wrote on it, but I can't recall a particular piece about it.
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I can't remember either, I listened to a bunch of his audiobooks and he definitely talked about how politicians rarely make a stand on reducing inflation as it's useful to print money for pet projects
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AI slop?
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