Re:The rise and fall of scientific authority, and how to bri...
by tropo on Monday March 18, 2019 @07:00PM
(#19426224)
Precious metal is a terrible choice because inflation is then determined by the random occurrence of discoveries of new mines and new mining technology.
The federal reserve is a terrible choice because unaccountable bureaucrats with their own agenda are given the power to juice or crash the economy, and they appear to threaten/reward presidents with this power.
Just printing money is a terrible choice because the executive can just run the presses instead of taxing, and thereby cause hyperinflation.
The USA has tried all 3 methods.
That last one has the most potential I think. It could be restricted to reduce misbehavior, perhaps with a time delay before changes take effect.
The federal reserve is a terrible choice because unaccountable bureaucrats with their own agenda are given the power to juice or crash the economy, and they appear to threaten/reward presidents with this power.
Just printing money is a terrible choice because the executive can just run the presses instead of taxing, and thereby cause hyperinflation.
The USA has tried all 3 methods.
That last one has the most potential I think. It could be restricted to reduce misbehavior, perhaps with a time delay before changes take effect.