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this post was submitted on 27 Jul 2024
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Asklemmy
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As an aside, I've often wondered what would happen if everything was automatically adjusted for inflation.
So like cost of living inflates, but then income is adjusted and bank accounts are modified to be their true value before inflation.
Would this patch things up to be effectively 0 inflation? or (more likely) would this cause an absurd runaway effect?
That it would spiral into more inflation, making your money worthless. Which is exactly what happened in Italy with the Lira
The issue here is we actually don't know how much inflation there is because we can't measure the quantity of fiat, which is why there are dozens of "inflation measures" which just study different baskets
But yeah, if inflation could be measured correctly and everything automatically updated (wages, costs, etc) then I'm not seeing an issue logically. But at that point it's just a fixed supply of money and prices adjust up and down, irregardless of currency type. That sound reasonable?