- cross-posted to:
- politics@lemmy.ml
- socialism@lemmy.ml
- cross-posted to:
- politics@lemmy.ml
- socialism@lemmy.ml
A video explaining modern monetary theory and how with a little Marxism it can benefit everyone.
A video explaining modern monetary theory and how with a little Marxism it can benefit everyone.
As the amount of currency approaches infinity, the value of the currency approaches zero
Which is bad if you have a lot of money, but not so bad if you have a lot of debt and can still sell your labor and its produce.
But also bad if you have pay for things like food and shelter. Then you are just bartering which is less efficient than having actual currency. You can’t buy or sell someone half a haircut.
If wages rise with inflation, then workers gain relative to those with accumulated fortunes.
deleted by creator
That’s not how infinity works. It’s not a number you can ever reach. It’s not a number at all really. It’s more a set of all numbers.
The value of the currency will never approach zero.
It’s called a limit and it is very much coneptualized in math.
A limit isn’t infinity though. Infinity has no limit. Its the oposite of a limit.
However high you may count, there is still infinitely more you could count. And an infinite number of fractions between each and every number you counted. And all of that is included in infinity.
That’s the technical language used to refer to a limit. Take it up with a calculus book
Well, the books just going off of Sr Thomas Calcula, so really you should blame him.
In mathematical terms it’s perfectly acceptable to talk about the limit of an expression as some value tends towards infinity. E.g.:
https://en.m.wikipedia.org/wiki/Limit_(mathematics)#Infinity_as_a_limit
Okay. My last try.
That’s a way of saying there is no specific value that is the end. The “Limit” is endless.
If we created a currency with 10^100 units. There would me more units than the atoms in a billion universes. And it would still be infinitely far from infinity.
So if the currency’s unit value is inversely proportional its proximity to infinity, the value of every unit of currency we could ever make is infinite. Even if we made 10^100 of them.
The term limit is used in mathematics differently from how you are understanding it from vernacular usage. A mathematical limit expresses directionality toward an unreachable value.
The meaning of the statement is that every marginal augmentation of the money supply carries some marginal diminution of the currency value, without any possibility that the supply may be exhausted absolutely or the value annihilated.
Try again, you still don’t understand the concept.