On 2012-11-04 10:43 PM, Changaco wrote:
A currency can't be both a long term reserve of value and a good medium of exchange, because the former encourages hoarding instead of trade.
This is just a matter of the prices level adjusting so that enough people have a sufficient hoards, simply a matter of price discovery. Then they start spending.
Hoarding is not a problem. Hoarding is what gives money monetary value. The more hoarding the better. Hoarding should be vigorously encouraged if you want people to use the money. The adjustment has to be of price levels.
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