--- john hull [EMAIL PROTECTED] wrote:
Some sources of info claim that
currencies can be made to be resistant/immune to
inflation.
Yes, if the unit of account is an hour of unskilled labor or a commodity.
If we use an
Hours model, then the currency is worth 1 hour of
(anybody's) labor
You may recall my recent question regarding local
currencies. Some sources of info claim that
currencies can be made to be resistant/immune to
inflation. I've been unable to locate any
more-or-less rigorous arguments to this effect.
Questions: Does this sound reasonable? Does it sound
