303 | AMA | February 2025

11449.791 - 11473.873 Sean Carroll

That is borrowing so that I have money right now against the promise of a future payment. A tiny bit of inflation will ease the burden of paying back that loan in the future and therefore make me more likely to take out the loan and therefore, in a well-functioning economy, makes it a little bit easier to make progress and have everything be active and churning and new things going on.