X @Nick Szabo

Economic Theory - Deflation is presented as the natural outcome of economic activity, driven by innovation and increased production [1] - Market competition leads businesses to either retain profits from cheaper production or lower prices, benefiting consumers [1] - Actions like volunteering or creating open-source software reduce market demand and contribute to deflation [2] - Mainstream economics' advocacy for 2% inflation is questioned, suggesting it obscures the transfer of wealth from producers to those who control money creation [3] Critique of Inflation - Inflationary regimes are criticized for allowing those who print money to benefit from the labor of others [3] - The report suggests that under inflation, the value of people's work is transferred to those who create new money without contributing [3] Advocacy for Bitcoin - Bitcoin is presented as a solution to the perceived problems of inflationary monetary systems [4]