3 ms·
an inherently unstable but critical element of an economic system shouldn't be allowed to float on the whims of a few humans, especially with overwhelming corru
by clairity 5y ago
an inherently unstable but critical element of an economic system shouldn't be allowed to float on the whims of a few humans, especially with overwhelming corruptive pressure lapping against them incessantly.
a central bank should be trying with all its might to precisely match the amount of money in the system exactly with the amount of productivity being generated. it shouldn't be trying to implement 'fiscal policy', but rather have exactly one singular (albeit complex) focus. any significant deviation should trigger immediate investigation, replacement, and (potentially) sanctions.
- jbay808 5y agoI agree. As a control theorist, I'd be much more comfortable with a PID controller running the ship, and I think it would do a better job.
- mountainriver 5y agoYup Denmark recently open sourced a lot of their fiscal policy and it works pretty much like this. Really great idea
- brandonmenc 5y agoI would love some links on this, because it sounds fascinating.
- bee_rider 5y agoI don't know much about either, but being confidently wrong can be a great learning experience so: They call these Automatic Stabilizers in the policy world.
- imtringued 5y agoThat's impossible without demurrage or negative interest rates.
- deleted 5y ago[deleted]
- jbay808 5y agoWhy do you think so?