money

Where Does Money Come From?

– September 7, 2020

“Money makes possible an incredible amount of interpersonal coordination in the market. Rules of private property and contract, of various kinds, predate money. But widespread market integration and economic growth only result when there is a critical mass of people in a single commercial network linked by money.” ~ Alexander W. Salter

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AMPLs and YAMs aren’t Monies; They are Gambling Technologies

– August 30, 2020

“It’s hard to see why AMPL or YAM could ever replace a dollar. While the price of these tokens is relatively benign, their quantity fluctuates wildly. So the total purchasing power of AMPLs (or YAMs) held in one’s wallet is quite volatile despite the purchasing power of a given AMPL (or YAM) being stable. Put plainly, these aren’t dollar substitutes.” ~ J.P. Koning

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ethereum

So-Called Stablecoins

– August 2, 2020

“Regular consumers are slowly becoming more interested in financial privacy. But they shouldn’t have to rely on systems that ignore the law. A more durable solution is to work towards changing those laws.” ~ J.P. Koning

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coin shortage sign

The Coin Shortage: A Big Deal about Small Change

– July 19, 2020

“Our smaller denomination coins cost more to produce than they are worth, and burden our transactions with tedious calculations. Temporarily, due to the virus, some of our businesses are suspending dealing in these coins. Perhaps soon we will replace our coinage with one that makes sense.” ~ Clifford F. Thies

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gold standard

That Civilized Relic: A Monetary System as Good as Gold

– July 16, 2020

“The gold standard isn’t perfect. No system is. But it has many virtues. A strong case can be made that it’s the best of all feasible institutional alternatives. As my dissertation adviser, Lawrence White, puts it: The gold standard is still the gold standard among monetary systems.” ~

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Where Have All the Coins Gone?

– July 11, 2020

“We should acknowledge the weaknesses of our current system and make improvements if possible. At a minimum, that means scrapping the penny. More fundamental reforms, like permitting competition in coinage, would be better still.” ~ William J. Luther

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elephant

One Size Never Fits All

– July 10, 2020

“One-size-fits-all solutions in our political discourse are often made to work for every topic globally. Reality is not like that, as both economic and ecologic matters frequently assert.” ~ Joakim Book

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Should Those Passing Counterfeits be Treated like Counterfeiters?

– June 24, 2020

“It seems odd that the crime of uttering currency is considered to be so grave an offense in this day and age. Reducing the punishment might cause law enforcement officers to approach cases of uttering as they do other less serious, non-violent offenses.” ~ J.P. Koning

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