Q&A: –“Curt, have you written much on money?”–
I’ve written a bit , here and there, mostly on:
1) the fact that fiat money is equal to shares in the state/economy, not notes or money. Moreover, I’ve tried to impress upon people that colloquial money (various mediums of exchange in sufficient volume to produce market price signals) and all its forms, differ substantially from money proper. And I’ve tried to correct mises and the bitcoin community on their uses of these terms – because it’s fraudulent to compare these media as having the same properties. They don’t’.
2) it’s not clear that people have any right to the appreciation of fiat money, nor whether they have a right to its store of value for any extended period of time (longer than a business cycle).
3) We should use multiple currencies for multiple purposes so that rates of inflationary dilution are purpose-specific.
4) There is no need to continue distribution of liquidity through the banking system as we did when there was hard currency. We can directly issue liquidity to consumers and cause spending without giving profits or power to the banking and finance system. This forces business and industry to fight for consumers, rather than fight for access to credit.
5) Money is information and the more kinds of money the more kinds of information we have that is less subject to distortion. I could write a book on this subject alone.
6) In theory money is neutral, in practice it is not. Not because prices are not eventually equilibrated, but because this process of equilibration works through the economy disruptively and without uniformity.
7) Lending should be regulated to the same degree as law, and debt should not be resellable because a price (value) is subjectively constructed and non-transferrable, and non-insurable.
8 ) Law has been abused to work in the favor of hazard-creation by lenders, and this should be inverted, and bankruptcy protection increased so that lenders have an extremely difficult time collecting and instead take fewer risks and take less responsibility for distributing liquidity.
9) intergenerational redistribution must be stopped, and the singaporean model adopted so that the future is calculable. Furthermore, this money cannot be touched by creditors or the state, or anyone else for that matter.
10 ) I would prefer that the government collected fees on all financial transactions rather than income taxes. I believe fees are necessary for the production of insurance of last resort, and those discretionary commons that make us competitive.
Those are the major topics.
