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In other words...we all agree that price fixing leads to either shortages or surpluses..but we all agree that fixing the price of money in a central bank is the
by brc 12y ago
In other words...we all agree that price fixing leads to either shortages or surpluses..but we all agree that fixing the price of money in a central bank is the right way to go. And we are not able to see the contradiction therein.
- pingburg 12y agoIn the end it's a question of alternative mechanisms. Either we use the current system or we go with a "backed" medium of exchange. The "backed" version suffers from elasticity (but that may or may not be a good thing). So the issue becomes what are some other alternatives that aren't just derivative of the first two?