I don't know anything about the "natural state of the world" whatever that might be.
I just know what I observe.
My *observation is that NGU and (the very nebulous, ill-defined thing that we're calling) "freedom" seem to be negatively correlated.
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I mean a state in which people are free to associate free of coercion. I don't think freedom (obviously) goes down and I don't think purchasing power would either. I think freedom and deflation are the default, basically. If that's true, there's no reason both can't happen.