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They forgot the other, key attribute of a dollar that makes it useful for 'distributing wealth': it has a relatively stable value. Economies rise and fall becau
by astazangasta 12y ago
They forgot the other, key attribute of a dollar that makes it useful for 'distributing wealth': it has a relatively stable value. Economies rise and fall because of the struggle to control the price of their currencies. The notion that a medium of exchange with no such stability should replace the dollar is bonkers.
- sirsar 12y agoIf by stable, you mean "decreasing steadily," then sure.
- astazangasta 12y agoYeah, I'll take a fairly predictable rate of inflation over an inherently deflationary currency with absolutely no controls on its motion. I guess we're supposed to be excited about currency being able to flit around like a panicking moth?
- oafitupa 12y agoI'll take the deflationary one, ty.
- josu 12y ago>Economies rise and fall because of the struggle to control the price of their currencies Economies that fall have struggles to control the price of their currency. The correlation is there, the causation is not so clear.