Hi Rojo. I'd hardly say that gold is arbitrary: it was freely used through the ages because people found that it worked. And what could be more arbitrary than a fiat currency that is manipulated by a central bank? Gold has retained its purchasing power for many centuries, while the US dollar has declined dramatically in less than 100 years. Which one is really arbitrary?
Originally Posted by Rojo
If the book you are recommending is based on Keynesian economics, then no thanks. I've read Keynes's "General Theory of Money and Credit". I concluded that Keynes was really writing a parody; I just can't believe that he expected people to think it was serious economics. The internal inconsistencies are just too great.
Live your life and love your life. It's the only one you get.