gistfile1.txt

09:29 >>> cvmn (~caveman@gateway/tor-sasl/caveman) has joined ##economics
09:29 ─── Topic for ##economics is "Economics, a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices about how to allocate resources. ... Please play nice! NO bullying and try to stay on-topic"
09:29 ─── Topic set by OPK (~OPK@user/opk) on Thu, 10 Jun 2021 01:26:16
09:29 ─── Channel ##economics: 70 nicks (3 ops, 1 voice, 66 normals)
09:30 ─── Channel created on Wed, 19 May 2021 09:58:33
09:36 <cvmn> yesterday some people here said things about 'zakat' not being applicable with modern-day 'money'.  someone said that because money today is not wealth (i.e. money now is like oil lubing an engine not a commodity itself like gold), therefore zakat is not useful any more.
09:36 <cvmn> however, i still don't get this.  e.g. so what if it is not a commodity?  wouldn't it still be helpful to avoid having non-circulating 'oil' to further lube economy?
09:36 <cvmn> we also spoke about: having a slight inflation helps promote people to not store their money/oil for too long.  but this inflation will also bite people who are already circulating their money, so isn't this a sub-optimal solution?
09:39 <cvmn> another thing we said: taxation is bad.  i agree, but i have  more general definition of taxation:  i consider 'inflation' a form of taxation.  so, there is 1 type of taxation that's good (one that punishes those who store money for too long).
09:40 >>> rmah2 (~rmah@ool-60382dfa.static.optonline.net) has joined ##economics
09:40 ─── Mode ##economics [+o rmah2] by ChanServ
09:40 <@rmah2> yar