Re: What’s Wrong with the Current Monetary System

On 31 December 2012 00:21, Manu Sporny <msporny@digitalbazaar.com> wrote:

> On 12/30/2012 12:36 PM, Melvin Carvalho wrote:
> > Quite a provocative post, not sure I agree with every point, but
> > there's certainly some valuable issues highlighted, that web
> > technology could help fix
> >
> >
> http://blog.p2pfoundation.net/whats-wrong-with-the-current-monetary-system/2012/12/29
>
> Out of curiosity,  which points don't you agree with?
>

Many people tend to consider deflation a bad thing.  However in the tech
world we've seen innovation leading to a drop in prices, being passed on to
the consumer.  Additionally, deflation in the Austrian sense, ie a decrease
in the amount of money, which is a decrease in the amount of debt, most
particularly in the form of bankruptcy is a form of fault tolerance in a
free market economy.  Deflation can be fine, so long as it is a dividend on
economic progress that is allowed to trickle down to improve standards of
living.


>
> I have yet to read the post, but would like to have your viewpoint
> before starting into it.
>
> -- manu
>
> --
> Manu Sporny (skype: msporny, twitter: manusporny)
> Founder/CEO - Digital Bazaar, Inc.
> blog: The Problem with RDF and Nuclear Power
> http://manu.sporny.org/2012/nuclear-rdf/
>
>