I propose a new term for an economic phenomenon many expect: the Alden moment. It's like a Minsky moment but manifested by commodity money replacing credit, in the spirit of her unified theory of money in "Broken Money." Credit cycles would continue but on a different base layer and at different velocity/amplitude based on incentives and productivity. The resultant Alden cycles, if one so fancies, would be the broad sweep of history for humans selecting monetary media rather than the shorter duration credit cycles Paul McCulley described in 1998 or Ray Dalio in "Principles for Navigating Big Debt Crises."

I might flesh out this idea in an essay. Thoughts? nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a