Quoting Gilder's book preview "In economist Milton Friedman’s famous equation MV=PT..."
Gilder should learn to use Wikipedia: https://en.wikipedia.org/wiki/Irving_Fisher#Monetary_economics On Wed, Aug 5, 2015 at 7:53 AM, James Bowery <jabow...@gmail.com> wrote: > Gilder's ideas in this latest book may be fresh, but his career is far > from it -- including some very stale ideas such as "supply side economics" > (which even some of its major proponents eventually admitted was > destructive to the middle class that Gilder supposedly championed from his > early days as an author) and being a major participant in the DotCon era > bubble. > > On Wed, Aug 5, 2015 at 3:20 AM, Mats Lewan <m...@matslewan.se> wrote: > >> I’ve always had doubts about economists understanding of how technology >> influences and changes the world and the society over time, and >> consequently also its financial and monetary realities. >> >> >> >> Renowned economist and author, George Gilde, has written the book *‘A >> 21st Century Case for Gold: A New Information Theory of Money’*, which >> is discussed by Ray Kurzweil in this piece: >> >> >> >> >> http://www.kurzweilai.net/ask-ray-renowned-economist-and-author-george-gilders-new-information-theory-of-money >> >> >> >> I think it brings out some fresh ideas on the failure of established >> economic theory. >> >> >> >> Personally I’m particularly interested in the aspect of Bitcoin with a >> fixed amount of money supply, making it similar to gold. Potentially this >> could be an important feature if the value of human work drops to zero >> through automation and the value of products and services falls drastically >> for the same reason. It could be what makes Bitcoin or some similarly >> designed crypto currency a winner. >> >> >> >> Note that Kurzweil points out to Gilde that supply of gold is not >> guaranteed to remain fixed, in the prospect of efficient transmutation >> technology. A refined algorithmic crypto currency might be more >> future-proof, although, as Kurzweil writes: *“I have concerns about the >> validity of bitcoin’s mining algorithm, and the extent to which this can >> ultimately be algorithmically subverted.”* >> >> >> >> >> >> Mats >> >> www.animpossibleinvention.com >> >> >> >> >> > >
