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My favourite suggestion about this is "rebasing", which Austan Goolsbee (among others) has written about: http://www.nytimes.com/2007/02/01/business/01scenes.ht
by blahedo 16y ago
My favourite suggestion about this is "rebasing", which Austan Goolsbee (among others) has written about: http://www.nytimes.com/2007/02/01/business/01scenes.html http://www.nytimes.com/2007/02/01/business/01scenes.html
- gojomo 16y agoAnother thing I love about this idea: as it becomes more thinkable, people may hoard pennies. Penny shortages would make it more necessary to do something -- to combat the seigniorage loss and make the hoarder-voters happy. Once it reaches a certain level of awareness/remote-likelihood, it could become a snowballing self-fulfilling prophecy/proposal. So people, vote against the penny by hoarding it! You'll get a 400% return after the re-basing!