How Inflation Undermines Culture And Values
Writes Brian Dunaway:
This column by Daniel Morena Vitonvia of The Mises Institute, posted on ZeroHedge, is among the most succinct, elegant writing I’ve seen on how inflation degrades the spiritual self. I was especially taken by these two passages:
“Saving, which is linked to sacrifice, also benefits the economy of giving, and deflation supports it – because falling prices discourage leverage, especially in households. As capital use becomes less profitable, the opportunity cost of making donations drops, which increases charitable giving both in absolute and relative terms. Inflation, by contrast, is harmful because it reduces the value of inheritances, and one of the strongest incentives to save before death is the desire to leave something to one’s loved ones. From this, it follows that one
Article from LewRockwell
LewRockwell.com is a libertarian website that publishes articles, essays, and blog posts advocating for minimal government, free markets, and individual liberty. The site was founded by Lew Rockwell, an American libertarian political commentator, activist, and former congressional staffer. The website often features content that is critical of mainstream politics, state intervention, and foreign policy, among other topics. It is a platform frequently used to disseminate Austrian economics, a school of economic thought that is popular among some libertarians.
