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Many, or even most people, believe that money must be controlled by the government for the economy to function. "Sound money" is money whose supply cannot be co
by yunesj 6y ago
Many, or even most people, believe that money must be controlled by the government for the economy to function. "Sound money" is money whose supply cannot be controlled by the government. Some further reading:
* https://fee.org/articles/what-do-we-mean-by-sound-money/ https://fee.org/articles/what-do-we-mean-by-sound-money/
* https://mises.org/library/principle-sound-money https://mises.org/library/principle-sound-money
* https://www.aier.org/pertinent_category/sound-money-project/ https://www.aier.org/pertinent_category/sound-money-project/
- ineedasername 6y agoThanks, a good explanation. And I don't think money has an inherent need to be government controlled in order to be stable either. (Though I do see some benefits) But I think it's relevant to split hairs a bit and say that "sound" often has the sense of "firm" or "solid/reliable", but that is not an inherent property of non-governmental currencies that can be controlled by groups that are no more beholden to users of the currency than governments. (Consider Facebook's attempt at creating a currency as an example)
- yunesj 6y agoYes, you're right! That was my mistake.