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Increasing the Money Supply

By Matthew Yglesias

"Increasing the Money Supply"

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So today’s Living Social Deal is that you pay them $10 and they give you a $20 Amazon gift card. Since there are such a wide variety of goods for sale on Amazon, Amazon store credit (especially in smallish quantities) is very cash-like, so a $20 for $10 swap is, in effect, a form of monetary expansion. And everyone knows I favor more expansionary monetary policy. So I’d encourage you to click here and take advantage of the offer even were it not for the fact that if three of you do so I’ll get my gift card for free. Although, to be fair, the prospect of me getting a free gift card only makes the policy even more expansionary.

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