From: Brian Holtz [brian@holtz.org]
Sent: Saturday, June 22, 2002 10:13 AM
To: Anton Sherwood
Subject: RE: currency


> > Not on all people; just on the people of the world's oldest
> > democratic republic and only remaining superpower and largest
> > ($10 trillion) economy.
> 
> Do you mean:
> - the dollar need not be forced on all people so long as it is 
> forced on some

Yes.

> [this] point is valid, though I would generalize it: a currency need
> not be forced on people so long as it can reliably be exchanged

So where is the evidence that private currencies could
efficiently act as the pricing fluid for a 21st-century
$10 trillion economy? And again:

So why wouldn't one particular private anarcho-capitalist currency
achieve similar runaway popularity due to network externalities, and 
why can't the dollar be managed as well as such a currency?  Complaints 
about dollar mismanagement may have been reasonable twenty years ago, 
but under modern monetarism they're just marginalia for theoreticians
and cranks.
--
brian@holtz.org
http://humanknowledge.net