On the assumption that there’s some overlap between LW and readers of Mencius Moldbug, this report on how to improve the monetary system, commissioned by the government of Iceland, might be interesting. It seems the author has been reading some Moldbug; his favoured suggestion, the “Sovereign Money Proposal”, is closely related to Moldbug’s suggestion that fractional-reserve banking with a lender of last resort might just as well be replaced with a sovereign lender of first resort, and banks that do not issue demand deposits.
There may be a better one; Moldbug’s financial ideas are spread over so many words that I gave up on finding the perfect link and just posted one that at least gestures in the right direction.
On the assumption that there’s some overlap between LW and readers of Mencius Moldbug, this report on how to improve the monetary system, commissioned by the government of Iceland, might be interesting. It seems the author has been reading some Moldbug; his favoured suggestion, the “Sovereign Money Proposal”, is closely related to Moldbug’s suggestion that fractional-reserve banking with a lender of last resort might just as well be replaced with a sovereign lender of first resort, and banks that do not issue demand deposits.
Are you sure that is the particular Moldbug post you meant to link to?
There may be a better one; Moldbug’s financial ideas are spread over so many words that I gave up on finding the perfect link and just posted one that at least gestures in the right direction.