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"Government does not need this ability," Extremely debatable, given the fact that every nation on planet earth basically uses monetary policy. A rational poli
by alexasmyths 9y ago
"Government does not need this ability,"
Extremely debatable, given the fact that every nation on planet earth basically uses monetary policy.
A rational policy whereby currency is exchanged for other assets at a rate using benchmarks is preferable to a strict currency.
A better economic policy might even allow almost anyone to exchange assets for currency. Then the market can decide how much is in circulation (though arguably that is already happening, just the levers are in the hands of a body, not a distributed group).
- felipeko 9y agoI don't think it is debatable considering we have had successful governments without it. Saying every country does it is not a good point, as it could be applied to slavery once upon a time. But I agree that it's debatable if it is good. Being good and necessary are two different things though.
- joshlemer 9y ago>every nation on planet earth basically uses monetary policy Not really true, if you consider all the countries that use the currency of an other. (https://en.wikipedia.org/wiki/Currency_substitution https://en.wikipedia.org/wiki/Currency_substitution)