今日论文分享:《通缩与自由》

下载网址: https://mises.org/library/deflation-and-liberty-1

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“通缩抑制经济增长,温和通胀促进经济增长”这个说法是错的。

如果没想明白这一点,确实很难理解比特币,一开始就把比特币否定了。

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这个要看人的行为,米塞斯这本书写的容易懂,可以用长期主义幸福感远超短期主义者。

我用https://www.chatpdf.com/ 总结了一下 Deflation and Liberty这本书。

假设总结无误的话,作者描述的是一个用commodity作为backing,汇率会变的货币系统。我觉得这样的系统相当好。但和把BTC直接货币化(或搞1:1不变汇率的货币)差太远了

Q:then according to the author, who decides the exchange rate of the currency and the underlying commodity

A: According to the author of "Deflation and Liberty," the exchange rate between the currency and the underlying commodity would be determined by market forces of supply and demand.

Q: then according to the author, who will be the organization issue this currency?

A: According to the author of "Deflation and Liberty," the government should not produce money or appoint a special agency to produce money in a commodity-based monetary system. Instead, the author argues that the government should keep its hands off and allow the market to determine the supply of money. In this system, private individuals and firms would be free to issue their own currencies backed by a commodity such as gold or silver. These currencies would compete with each other in the marketplace, and their value would be determined by market forces of supply and demand. The author suggests that this decentralized approach to currency issuance would promote competition, innovation, and efficiency in the monetary system. However, it is important to note that this is just one perspective on monetary policy, and there are many other approaches that have been proposed by economists and policymakers over the years.

Q: what if these company decide to scheme together to artificially inflate this currency?

A: The author of "Deflation and Liberty" does not specifically address the possibility of companies scheming together to artificially inflate a currency in a commodity-based monetary system. However, it is worth noting that in any monetary system, there is always the potential for individuals or groups to engage in fraudulent or manipulative behavior. The author suggests that a commodity-based monetary system would provide a more stable and predictable monetary environment than a fiat money system, but it is not immune to abuse or manipulation. In order to prevent such abuses, the author suggests that there should be strong legal protections against fraud and other forms of financial misconduct, as well as effective regulatory oversight to ensure that market participants are acting in accordance with the law. Ultimately, the success of any monetary system depends on the integrity and honesty of its participants, as well as the effectiveness of its legal and regulatory framework.

题外话,我觉得其实这也是stablecoin在进化的方向,有超额质押的decentralized stablecoin能活久一点,对市场的渗透再广阔一点,基本就是它说的那个东西。会变成stablecoin和国家发行币之间的争夺控制权关系。

Q: what decide the circulation amount of that commodity money

A: In a free market for money, the quantity of money is determined by the demand for money and the supply of money. The demand for money is determined by people's desire to hold cash balances, while the supply of money is determined by the production of commodity money. (Page 6) Therefore, the circulation amount of commodity money would be decided by market forces of supply and demand.

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在自由社会里货币生产是自由联合之事务。从矿工到矿主、到

铸币者、一直到购买铸币的顾客的每个人所有人都从货币生产中受

益。他们中没有人侵犯其他任何人的财产权因为所有人进入采矿和

铸币产业都是自由的任何人购买产品均不受强迫。

至于在过去 150 年流毒西方的干预制度之下货币生产的情况截

然不同。这里我们需要特别提到两种货币干预主义的制度形式欺

诈性部分准备金银行和法币。这两种制度的共同特点是它们违背

了自由联合的原则。它们使纸币和货币权证的生产者可以通过侵犯他

人财产权来扩大生产。