4 ms·
You’ve missed another obvious example: fiat currency.
by catlifeonmars 3y ago
You’ve missed another obvious example: fiat currency.
- pyuser583 3y agoCurrency is a really weird one. Historically currency was the legitimacy multiplier, but it was about getting the god-king’s face on the coinage, not setting economic policy. Nowadays governments are pretty indifferent about whose face is on the currency. And they’re likewise indifferent about economic sovereignty.
- catlifeonmars 3y agoIdk about indifference. Argentina is a recent example but you have to consider the trade off between being able to control monetary policy and not being able to shoot yourself in foot by being able to control monetary policy.