Sound money is crucial for economic growth and prosperity from "summary" of The Bitcoin Standard by Saifedean Ammous
The concept that sound money is crucial for economic growth and prosperity is a fundamental principle that has been understood by economists for centuries. Sound money refers to a form of money that maintains its value over time, allowing individuals to save and invest for the future without the risk of losing purchasing power. In contrast, unsound money, such as fiat currencies that can be inflated at will by governments, erodes the value of savings and distorts investment decisions. When money is sound, individuals are more likely to save and invest their resources in productive activities that contribute to economic growth. Sound money provides a stable unit of account, allowing individuals to accurately measure the value of goods and services over time. This stability encourages long-term planning and investmen...
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