James Leroy Wilson's blog

Wednesday, May 21, 2008

Reversing Gresham's Law

My latest at the Partial Observer. Excerpt:
"Technology reversed Gresham's law. Plastic cards with magnetic strips made all the difference, because it made the ancient form of trade, called "barter" possible again. So even though the government is still inflationary and still over-spends, we can become prosperous by ignoring the dollar and trading things we actually want and need."

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