The terrible money theory of John Maynard Keynes (1883-1946) is bullshit.

The productivity gains achieved by technical progress ought to lead to falling prices and to people having to work less, since they can produce the same amount of goods in less time. Instead, even after 200 years of rapid technical progress, people still have to work 8 to 10 hours a day because the terrible Keynesian inflationary monetary theory leads to a redistribution from the working population to those who own productive capital and could can borrow against their capital even more capital.

This means that private commercial banks expand the money supply through lending for a small upper class and also for nation states and thus uncontrollably increase the money supply, which then manifests as inflation for everyone.

Hopefuly, Bitcoin will break this vicious circle!