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I am in the process of reading Not a Zero Sum Game, but I do have a confusion that maybe you or someone else can help explain. In the book, he makes the argument that "No matter what he produces, every exporter ends up with foreign currency as his final product." This confuses me. Essentially...
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I've been reading the comments in this thread and am appalled by the level of ignorance and arrogance by anyone too scared to accept that a non-commodity backed currency could ever work. You all seem to forget that the sole purpose for money is to facilite exchange. One of the main reasosn you'd...
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Hey Mises Community members, I'm back with another question. I've been trying to figure out why we have a fiat currency system. There is a ton of information on the 'net about the DISadvantages of fiat currency, but few resources that address its advantages. The best I've found so far...
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It seems to me that nowadays, with the current economic situation, there is some "passion" for the gold standard as a solution to all problems the world is currently facing whether on international, national or even individual level. Taking into consideration the above mentioned points, let...
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What are the political and economic consequences that will occur, nationally and internationally, if the United States tried to end it's fiat currency policy? Also/or: How likely is reform to occur considering the democratic nature of the United States?
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Due to the threat of inflation and taxation, I am wanting to know what exactly is Sound Money. I have been skimming through the Theory of Money and Credit, is this a book you would recommend? Also there is a book called Life, Inc. (which is just a simple pop science book) which introduced me to the concept...
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Hello, I'm an American student, currently studing intensive Mandarin in Beijing. In addition to language study, I am also doing a semester-long research project on China's effect on the U.S. Dollar. It would be most helpful if anyone could point me in the direction of any Chinese economists of...
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Has anyone else read the recent article in Wired Magazine entitled "The Future of Money?" It was actually the cover story, so I flipped it open eagerly. It was about PayPal, and new forthcoming innovations such as payment-through-twitter, and other schemes for cutting out the middlemen of credit...
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Can "saving" only involve money/currency?? In an economic sense, can it also apply to labour, and time?? If you start fundamentally defining what money actually is i think saving actually refers to your labour and time. What are your thoughts??
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Ya'll, If there's anybody still watching this post, I'd like to follow up with some questions. (1) An elementary question: when one refers to X buying Y's debt, what exactly does this mean? In the case of the U.S. and China? Is this private debt, public debt, or both? (2) How is China...