As a blanket presumption, that’s dumb and you know it.
Certainly printing money is a near costless way to solve economic problems at some times otherwise we wouldn’t use money at all. Sumner doesn’t advocate printing money at all times and places, he advocates printing or destroying money until there is the correct amount (which he suggests is when NGDP is on-trend).
As a blanket presumption, that’s dumb and you know it.
I think you’re confusing “presumption” with “categorial principle” or “axiom” or something. A presumption can be overridden, given sufficient evidence; my question was whether or how strongly EY takes a presumption against it. If you agree with the concept of criminalizing counterfeiting, you agree with that presumption.
Certainly printing money is a near costless way to solve economic problems at some times otherwise we wouldn’t use money at all.
Does not follow. Not all moneys arose in a Pareto-optimal fashion, so their use not evidence printing money being costless.
As a blanket presumption, that’s dumb and you know it.
Certainly printing money is a near costless way to solve economic problems at some times otherwise we wouldn’t use money at all. Sumner doesn’t advocate printing money at all times and places, he advocates printing or destroying money until there is the correct amount (which he suggests is when NGDP is on-trend).
I think you’re confusing “presumption” with “categorial principle” or “axiom” or something. A presumption can be overridden, given sufficient evidence; my question was whether or how strongly EY takes a presumption against it. If you agree with the concept of criminalizing counterfeiting, you agree with that presumption.
Does not follow. Not all moneys arose in a Pareto-optimal fashion, so their use not evidence printing money being costless.