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Thursday, June 4, 2015
Yves Smith — The Economics of Parallel Currencies
Lots of different views about the tradeoffs. Those on the right write it off as impractical.
Impractical? The Swiss 2nd currency, the WIR has been going strong for 70 years and thousands of firms use it. And in Peru, Peru's own currency and the US dollar are used side by side. Seems to work.
Impractical? The Swiss 2nd currency, the WIR has been going strong for 70 years and thousands of firms use it. And in Peru, Peru's own currency and the US dollar are used side by side. Seems to work.
ReplyDeleteI said it was the right. It's ideological.
ReplyDelete