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lsparrish comments on Bitcoins are not digital greenbacks - Less Wrong Discussion

6 Post author: lsparrish 19 April 2013 06:13PM

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Comment author: lsparrish 22 April 2013 05:04:40PM *  -2 points [-]

Pizza almost certainly would not go away even in a deflationary economy. If anything, more people would spend time creating pizzas in their own kitchens. This would take away from their hours previously available for leisure, education, and jobs. This is just one example of how deflation could make people act in less efficient ways, by relying less on mass production and economies of scale.