protocolSociety on Nostr: it somewhat depends on the denominator in the debt contract, but i indeed i do view ...

it somewhat depends on the denominator in the debt contract, but i indeed i do view most of the debt we have know as a hidden tax. everytime someone borrows money into existence, it adds to the currency in circulation which is inflationary. the only way this is not inflationary to consumers, is if the product/services produced make the economy more efficient and new debt is used to pay of the old debt. however; increasing efficiency together with increasing debt is an unstable system, because its not evenly distributed, on the contrary its a centralizing process. in the end we get some sort of reset.