tag:blogger.com,1999:blog-6181862.post1997243809653854048..comments2023-10-24T20:37:11.842+13:00Comments on The Probligo: A question for those Libertarian economists...The probligohttp://www.blogger.com/profile/17882103150181414348noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-6181862.post-53912919830596812652007-10-31T04:48:00.000+13:002007-10-31T04:48:00.000+13:00by 'micro inflation' I mean inflation that that ef...by 'micro inflation' I mean inflation that that effects only a small portion of the economy, not that the inflation amount effecting that economy is small. For example, a drought that raises the cost of wheat by 20% is a large increase in the cost of wheat, but an example of micro-inflation. When the fundamentals of an economy change so that everything (or nearly everything) cost more, that is Dave Justushttps://www.blogger.com/profile/04139807963654242625noreply@blogger.comtag:blogger.com,1999:blog-6181862.post-64879341308345778222007-10-30T21:31:00.000+13:002007-10-30T21:31:00.000+13:00Found this after writing that comment Dave, puts ...<A HREF="http://www.saudi-us-relations.org/articles/2007/ioi/071011-jadwa-inflation.html" REL="nofollow">Found this after writing that comment Dave</A>, puts my point nicely and from a totally different source too...The probligohttps://www.blogger.com/profile/17882103150181414348noreply@blogger.comtag:blogger.com,1999:blog-6181862.post-91201232657504614182007-10-30T21:24:00.000+13:002007-10-30T21:24:00.000+13:00Dave, thanks for the comment.Can I just point out...Dave, thanks for the comment.<BR/><BR/>Can I just point out that NZ is <B>a nett food producer</B>. Therefore, when looking at food groups the price of substitutes is not a valid comparison. Yes, it is conceivable that world dairy and beef prices might collapse in two years time. But in the meantime, it is as I said - that the price I pay is the same as the price you pay. If it were The probligohttps://www.blogger.com/profile/17882103150181414348noreply@blogger.comtag:blogger.com,1999:blog-6181862.post-12453442442106495892007-10-30T07:22:00.000+13:002007-10-30T07:22:00.000+13:00I am not sure which brand of Libertarian you are r...I am not sure which brand of Libertarian you are refering to, there are many libertarian and quasi-libertarian brands of economic thinking. <BR/><BR/>However, to the best of my knowledge no Libertarian economic thought says that all cases of micro-inflation (which is what you are talking about here) are the result of government intervention. <BR/><BR/>If the situation is as you describe, then Dave Justushttps://www.blogger.com/profile/04139807963654242625noreply@blogger.comtag:blogger.com,1999:blog-6181862.post-31637623623951112752007-10-29T06:31:00.000+13:002007-10-29T06:31:00.000+13:00TF, noted.This is going to stick around for a bit...TF, noted.<BR/><BR/>This is going to stick around for a bit - at the very least to see if there is some kind of consensus.The probligohttps://www.blogger.com/profile/17882103150181414348noreply@blogger.comtag:blogger.com,1999:blog-6181862.post-66993067447813184952007-10-29T01:25:00.000+13:002007-10-29T01:25:00.000+13:00I’m not a big brain on Economics; however, there a...I’m not a big brain on Economics; however, there are several factors which the government controls which have a direct bearing on the value of your money, call it inflation or some other name. Fiat currency is the primary means by which so called inflation is brought about, the printing of more money which is dumped into the existing pot causes the value of previously issued currency to be T. F. Sternhttps://www.blogger.com/profile/10998813855197833260noreply@blogger.com