An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Thursday, August 21, 2014
hartsellml — Book of the Day: Rethinking Money by Bernard Lietaer and Jacqui Dunne
“The crux of the argument of the book is that local currencies have far greater velocity or turnover than national currencies.”
It seems to me the "..slight demurrage.." (programmed loss of currency value over a period) mentioned is a far more telling characteristic than merely 'local'. In fact, one wonders if the regular adjusting of a demurrage rate could not itself be a very useful tool in stabilising demand/resource use at a consistently near full capacity level?
It seems to me the "..slight demurrage.." (programmed loss of currency value over a period) mentioned is a far more telling characteristic than merely 'local'.
ReplyDeleteIn fact, one wonders if the regular adjusting of a demurrage rate could not itself be a very useful tool in stabilising demand/resource use at a consistently near full capacity level?