Something less obvious about inflation is that it also destroys information
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Where have you observed this?
Why?
Because a market is a computer that takes time to discover what the viable niches are, and when you change some macro-variable (such as the purchasing power represented by a unit of currency), the model of what those niches has to get recomputed.
The analogy to biological evolution would be changing the value of a joule.
(I think)
Agreed - complicated thought ๐ง
interesting thought โ I guess it's the same for all macro economy top down decisions: Taxes, rate hikes, new legislation and so forth... the bag is shaken and calculated information lost.
Yeah, those are even better examples