pull down to refresh
465 sats \ 1 reply \ @KeynesianClowns 21 Feb \ parent \ on: Why Does the State Have a Monopoly on Money? econ
That last point is really interesting. I suppose the main difference is that the hard money country would have to rely on taxation revenue (increasing taxes if the war required more funding) rather than currency devaluation to fund its war. Still theft, but at least one is visible while the other is not immediately so. And if the war is actually in the interests of the citizens of that hard money country, it shouldn't be that difficult to sell the tax increase to the bulk of the citizens relatively speaking at least, shouldn't it?
reply