From: Dan Fabulich (daniel.fabulich@yale.edu)
Date: Fri Mar 03 2000 - 15:10:21 MST
> With current computational abilities, its not a problem at all to
> abandon fiat type currencies alltogether and make commodity based
> currencies: The Hog, The Silver, The MegaByte, The Soybean, etc. all
> tied to their respective commodities.
Yes, but having a parsimony of currencies has its advantages as well.
Computational advantages aren't the only question. There's also the
matter of getting the relevant prices to traders when and where the trade
happens.
The market will therefore obviously set a much smaller number of
"currencies" than there are goods. You can call those currencies "money,"
at that point, even if they do have their own independent uses, since for
the most part people will be trading their goods for a much smaller set of
ideally liquid goods.
A larger money market does not a barter system make, IMO.
-Dan
-unless you love someone-
-nothing else makes any sense-
e.e. cummings
This archive was generated by hypermail 2.1.5 : Fri Nov 01 2002 - 15:27:10 MST