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overtheedge
Member since May 2012
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Monetary Theory: Where Is the Flywheel and other Intellectual Ponderings and Squabbles - Jesse - Le Café Américain

"Or for the less mechanically inclined, where is the constraint, the restraint, the governing factor, on expanding the money supply?"

There is none. It defies human nature to stop after eating just one potato chip. Nature will always out itself.
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"It is not what is used as money so much as how it is managed....
Gold presents problems that paper does not.
If new gold does not keep up with growth, you run into one type of imbalance. "

It is always management that screws the pooch. Let us see, we hire the least qualified ( no successful business experience) to manage the community purse. What could go wrong?
No it doesn't. But I have an open mind, so name just one.
No it doesn't. The valuation of merchandise the gold is exchanged for just shifts. Or did someone repeal the "Law of Supply and Demand?"

The problem is, was and will always be "individuals will eschew personal responsibility and demand that the PTB insures them." All forms of this "insuring" demand an ever expanding monetary base.

Commented 4259 days ago

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Beginning of the headline :Money is power. And so like those other loci of power, politics, tribalism, and religion, the discussion can sometimes obscure rather than illuminate the facts and issues, such being the emotional state of people. The discussion can sometimes become very heated, and very particular over the finer points, in a vacuum. A system becomes rigorous and hardened by usage, and effete and elaborate the longer it is parked on the bench. I am thinking of course of the recent case of Krugman v. Sachs... Read More

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