Posted To RWER Blog 05/29/2018

KZ: Craig, the belief that money is created by rules, or stated in a more grandiose way, of law drives a stake into the heart of the belief that markets make all economic decisions for us. The creation and the use of money are purely political creations. Thus, changing the nature of money is a political choice, not a market result. Clearly, the political processes may be complex and difficult to describe, and may involved some market actions, but the political actions that make money always extend beyond any one or several markets. In fact, these markets are themselves creatures of cultural rules. You are suggesting changes to those rules. It’s impossible to say a priori what impacts a “universal dividend,” or an “assured middle-class lifestyle,” or “linearizing price deflation,” or “monetary gifting” will have. But certainly, these are interesting questions to consider via observation.

Me:  It’s not impossible to say what the monetary and economic effects of those policies will be….because their temporal universe and mathematical effects throughout the entire legitimate economic process will be exactly what I’ve said they will be. Now you CAN say that their individual human effects may vary, yes, but their above effects….ARE what they are.

You could also say that certain agents may try to undo or retard some of those effects, and that would very likely be correct also, but of course part of the implementation of any set of policies denotes enforcement of them and/or various levels of punishment for not doing so….like kicking cheaters/non-com pliers with such policies…out of the privileges they might otherwise enjoy from them.

KZ:  Craig, two items speak against the path you suggest. First, the always present uncertainty involved in all aspects of human society. Second, human judgement, which is involved in every action and decision of humans. Obviously, neither is predictable. The result, sometimes the cheaters win, and humans choose a path that disagrees with the one you prefer.

Me:  Yes, one can’t know which ideas will win or not. But I’m no longer concerned with that.

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