Gold money means that the VALUE is relatively stable (relative to other options) in comparison to Ideal Money (which is money comparable to an optimally chosen basket of stable global commodity prices). We have never had that option, other than gold that Nash explains failed for reasons, and is not a good idea to re-instate for reasons.
Also the governments heavily restrict our ability seek better alternatives.
Because it leaves the market participants with no basis for valuation. Every time they find one there is pressure for self interested actors to corrupt it. And also it doesn’t matter, if I don’t give an argument then the suggestion is still that competition will tend the currencies towards ideal.
Which is it? Competition evolves currency toward an ideal, or competition provides pressure driving self-interested actors toward corrupting currencies?
Gold money means that the VALUE is relatively stable (relative to other options) in comparison to Ideal Money (which is money comparable to an optimally chosen basket of stable global commodity prices). We have never had that option, other than gold that Nash explains failed for reasons, and is not a good idea to re-instate for reasons.
Also the governments heavily restrict our ability seek better alternatives.
Please continue. Why is competition between international currencies not sufficient to emanetize the eschaton?
Because it leaves the market participants with no basis for valuation. Every time they find one there is pressure for self interested actors to corrupt it. And also it doesn’t matter, if I don’t give an argument then the suggestion is still that competition will tend the currencies towards ideal.
Which is it? Competition evolves currency toward an ideal, or competition provides pressure driving self-interested actors toward corrupting currencies?