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Thought for the Day: The Moral Effects of Inflation
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pyotr filipivich
Oct 8, 2022, 9:05:18 PM10/8/22
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courtesy of the Powerline Blog October 7, 2022 by Steven Hayward in
Thought for the Day
»Inflation is typically thought of as primarily an economic problem,
but perhaps this is too narrow a way of thinking about it. Might some
of the social decay of the 1970s (its “narcissism,” if you like Chris
Lasch’s famous indictment) be attributable to the steadily rising
inflation of the decade?
Bertrand de Jouvenel writes:
“Inflation is the moral ruin of societies, for it authorises a
debtor not to make effective repayment of the real sum which he
and the creditor had in mind, but only of a smaller sum, which is
the same only in name. It is a school of default on the substance
of promises.”«
--
pyotr filipivich
"Have the Anarchists ever stopped to consider that if they bring
down the American Government, there will be no one to protect
them from the rednecks?"
Thought for the Day
»Inflation is typically thought of as primarily an economic problem,
but perhaps this is too narrow a way of thinking about it. Might some
of the social decay of the 1970s (its “narcissism,” if you like Chris
Lasch’s famous indictment) be attributable to the steadily rising
inflation of the decade?
Bertrand de Jouvenel writes:
“Inflation is the moral ruin of societies, for it authorises a
debtor not to make effective repayment of the real sum which he
and the creditor had in mind, but only of a smaller sum, which is
the same only in name. It is a school of default on the substance
of promises.”«
--
pyotr filipivich
"Have the Anarchists ever stopped to consider that if they bring
down the American Government, there will be no one to protect
them from the rednecks?"
dragon fox
Nov 14, 2022, 12:58:29 PM11/14/22
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(Will Rogers)
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