Should we legalize the act of paying a bribe?
From the website IPaidaBribe.com A few months ago I stumbled on Kaushik Basu's fascinating and readable 2011 paper Why, for a Class o...
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A 21st century U.S. trade dollar
Desember 02, 2016
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bimetallism,
coins,
dollarization/euroization,
Federal Reserve,
Ken Rogoff,
legal tender
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"America's only unwanted, unhonoured coin." - John Willem on the silver trade dollar. The inspiration for this post comes fro...
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A modern example of Gresham's Law
November 18, 2016
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Gresham's Law,
inflation,
sticky prices,
stock market and equities,
Zimbabwe
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Sir Thomas Gresham Anyone who makes an effort to study monetary economics quickly encounters the concept of Gresham's law, or the idea t...
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Modi's demonetization: chaos is a feature, not a bug
November 13, 2016
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Bangko Sentral ng Pilipinas,
cash,
demonetization,
Reserve Bank of India
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Prime Minister Narendra Modi's aggressive demonetization of the 500 and 1000 rupee note is causing plenty of chaos in India. A general ...
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Aggressive demonetizations
November 08, 2016
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cash,
demonetization,
Ken Rogoff,
legal tender,
Reserve Bank of India,
Riksbank,
seigniorage
Edit
Prime Minister Narendra Modi surprised Indians today by announcing that India's highest denomination notes, the 500 and 1000 rupee, wil...
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OneCoin round 2 - it's all about the "family" and merchants
The saga of OneCoin continues. We've talked about the issues they might be running into with using big numbers for their currency , how...
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Thoughts on Rogoff's 'Curse of Cash'
The US$5000 banknote, destroyed in 1969 along with the $10,000, $1000, and $500 notes With the publication of his new book The Curse of Cash...
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