“Managed Money” – Alan Reynolds
“Hypothetical monetary systems always look better than actual experience. Economists therefore view their responsibility as deciding what characteristics money ought to have, then imposing that money on the public. The same economists presumably would not dictate what sorts of shoes we should have, or how many, or one what terms.
The question of why economists cannot agree on a monetary system presumes that money is something best designed by experts, like a machine or building. Money is thus viewed as something to be managed by an omniscient and incorruptible elite.”
“Managed Money”
Alan Reynolds
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