this post was submitted on 16 May 2024
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780
Microsoft's carbon emissions up nearly 30% thanks to AI (www.theregister.com)
submitted 7 months ago by [email protected] to c/[email protected]
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[–] [email protected] 1 points 7 months ago (1 children)

Crypto is literally just machines wasting energy on purpose to create false scarcity

A monetary system that is designed to lead to eternal, cancerous growth through intentionally inflating the money supply is far worse.

[–] [email protected] 2 points 7 months ago (3 children)

I'd love to see any evidence or logical arguments that an inflationary economy is worse than a deflationary one.

[–] [email protected] 1 points 7 months ago (1 children)

I’d love to see any evidence or logical arguments that an inflationary economy is worse than a deflationary one.

Don't you understand that artificially induced unlimited growth is bad? It's not about inflation or deflation, but the outcome.

https://www.ecb.europa.eu/mopo/strategy/pricestab/html/index.en.html

The main task of the ECB is to maintain price stability. The ECB’s Governing Council considers that price stability is best maintained by aiming for 2% over the medium term. Price stability creates conditions for more stable economic growth

[–] [email protected] 2 points 7 months ago (1 children)

I mean, I don't disagree with you on that. I didn't think your first comment quite conveyed this nuance, and deflationary economies are terrible for everyone.

[–] [email protected] 1 points 7 months ago (1 children)

deflationary economies are terrible for everyone

That's a myth spread by modern monetary theorists because they only understand the economy from an inflationary perspective. Economies worked fine for millennia without inflationary money.

[–] [email protected] 2 points 7 months ago (1 children)

I don't think local economies from millennia ago are similar enough to compare to modern global economies with our current population boom. I think we could for sure have a different approach if our population was stable or decreasing.

[–] [email protected] 1 points 7 months ago (1 children)

worked fine for millennia without inflationary money

That means until the early 1900s or 1970s when inflation went into overdrive.

our current population boom

Huh what?

[–] [email protected] 2 points 7 months ago

That means until the early 1900s or 1970s

What a wide window, but I'd like to point out that the baby boomers generation happened right around this time.

Huh what?

Fertility rates and total population numbers are not the same thing.

[–] [email protected] 1 points 7 months ago

Inequality since Nixon because of the Cantillon effect