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Except that fiat money can be analyzed axiomatically, because it is essentially just numbers in a balanced double-entry ledger. The difficult part is in transl
by jkhdigital 6y ago
Except that fiat money can be analyzed axiomatically, because it is essentially just numbers in a balanced double-entry ledger.
The difficult part is in translating theorems into practical knowledge about the economy, but just because this is difficult doesn’t mean that the axiomatic approach is wrong.
- nabla9 6y ago> Except that fiat money can be analyzed axiomatically Not in a meaningful way. (meaningful = related to real economy). If you just look at the numbers in a silly accountant fashion, and population doubles, analysis is meaningless. You need want to keep money relatively stable (say 2% inflation) you need to keep adding money to match changes in demand or factors of production.