Thursday, November 5, 2015
Collis Mckenzie, chapter 10, question 5
What stuck out to me from the chapter was section on governments taxing their citizens indirectly by printing more money to pay government employees. The government has more money that is worth less than before, but overall the government has more purchasing power than before. It's interesting to think that when money has no intrinsic value, it is easy to change how much it is worth. The value of the dollar is equal to the value of the dollar and nothing more, so the value of a dollar changing is necessarily always a bad thing.
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