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586: Mike's Clone Army

3568.455 - 3585.804 Chris

Regarding inflation, don't forget that through innovation and efficiency gains, we ought to be paying less for goods over time. In Broken Money, Lynn Alden states that most developed countries have expanded money supply by about 6% to 7% annually. So if you assume we're missing out on 3% deflation annually, then add 3% inflation.

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