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Explaining the inflation rate (lemmy.world)

submitted 3 months ago by The_Picard_Maneuver@lemmy.world to c/whitepeopletwitter@sh.itjust.works

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[–] Kecessa@sh.itjust.works 2 points 3 months ago (1 children)

People would stop purchasing non essentials, leading to degrowth which is exactly what we need!

[–] KevonLooney@lemm.ee 1 points 3 months ago

But the shrinking economy would happen in an uncontrolled cycle. It would be too sudden. Even your job at the plant nursery would be cut. That's why deflation is bad: it's an uncontrolled brake on the economy.