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this post was submitted on 19 Mar 2024
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It could actually be a benefit if it does slowly degrade. Let's support work, not hoarding.
That's what inflation is and why governments target a low but positive level of inflation with monetary policies. The fact that your dollar slowly loses value pushes you to reinvest it. Very few rich people are just sitting on piles of cash.
If they didn't also aggressively suppress increases to minimum wage and tax recapture benefits, I might agree, but in the long run inflation does more to devalue labor than it does to mitigate hoarding.