Cryptocurrency Price Stability: Hayek's Solution & Big Themes
Explore the innovative solution proposed by Ferdinando M. Ametrano for cryptocurrency price stability, delving into the implications for monetary policy, human biases, and corruption. Dive into the questions raised about the unique opportunities offered by digital currencies and their impact on the traditional concept of money.
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Presentation Transcript
Hayek Money: The Cryptocurrency Price Stability Solution by Ferdinando M. Ametrano Discussion by Angela Walch
Contributions Grapples with consistent problem of currencies fluctuating relative value. Takes a stance on monetary policy embedded in Bitcoin. Shows the link between Hayek s idea of competing private currencies and the possibilities offered by cryptocurrencies today. Offers creative way to resolve fluctuating prices that result from fluctuations in currency value, taking advantage of unique attributes of digital currencies.
Big Themes Predictability Stability Prosperity Control Technology offers New Possibilities Removal of Human Bias & Corruption Rigidity versus Flexibility
Questions Remaining Are we better off with fluctuating amounts in our wallets than with fluctuating prices? Are there other benefits of digital currency that give us more options than we have had with other forms of money? New flexibilities? Is it resolved that money is a good subject to the laws of supply and demand? Or is it special? Do cryptocurrencies and this solution remove human biases/corruption from the system? Are we oversimplifying the problem?
