Social media tends to be blamed for the overall nastiness of public discourse. Instead of condemning this form of communication, condemn the fuel that feeds this conflagration: democracy.

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As the Austrian School economists know full well, inflation distorts price signals unevenly. It may be tempting to try to filter out inflation from any given good or service to find its real price had the currency supply never been inflated in the first place, but this is impossible given the uneven effects.

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