Posted by Paul on Sunday, July 16, 2006 at 9:10pm.
Suppose it became lawful for anyone to issue money without any government restrictions of any kind. What factors would influence an individual to either accept or reject privately issued money? What institutions might arise in the free market to help a person decide whether to accept or reject a particular private monetary note?
What do you think would happen? Would you accept currency from the Bank of MsSue? Why? Why not?
Please post your answer to this question and we'll be glad to critique it.
Paul, doesn't the question itself suggest some answers?
If multiple sources could simply fiat and print currency don't you think there 'might' be some kind of chaos?
The simplest factor about whether we'd accept/reject it would be the behavior of others accepting/rejecting it. Also, the stability/instability of the issuer in honoring their own currency.
As for what type of institutions that could arise, I suppose professional counterfeiting and anti-counterfeiting ones would come into existence. That would be my initial surmising I suppose.
I would like to see a guess on your part when posing a question, just so I know you've made an attempt to answer first. But that's me.
So move back! You are free to do so! One less ignorant person to deal with writing stupid messages like the one you posted!
Ya know.. all minorities complain that White Americans do not pay enough attention to them and that they feel discriminated against. Well, with statements like that, THAT IS WHY!! You should feel lucky that we WANT to learn about your culture!! But less people like you in America would be nice. Kudos to you Move Back!
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