Say there are X dollars in the whole wide world. Does that number increase, decrease, or stay the same over time? If it increases, where does the value come from? If it decreases, where does the value go?
I don't think the value could decrease, except for people losing physical money or bank accounts somehow being totally wiped out.
I keep on trying to imagine a tiny town that can provide everything for itself. Nothing in and nothing out. It seems to me that the wealth of the town as a whole would have to stay the same, but the distribution would probably change. More wealth could not be created.
Anyone know the answer to this one?
Posted at 15:21:12 | TrackBack