In a May 2021 essay, Curtis Yarvin (aka Mencius Moldbug) argues that the American economy runs on an inflation machine. Yarvin claims that the best way to measure the amount of inflation is to look at the change in aggregate personal net worth over a given period. Murphy explains why this is wrongheaded.
Mentioned in the Episode and Other Links of Interest:
Curtis Yarvin (aka Mencius Moldbug)’s essay on The Inflation EconomyEric Weinstein tells Lex Fridman his wariness
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