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New Theories / Re: Universal Utopia? What's The Universal Terminal Goal?
« Last post by alancalverd on Today at 18:16:01 »Like the man said, a government can print more money, but in doing so it devalues its own currency.
Bankruptcy isn't the problem. What matters is whether people will accept the paper in exchange for goods and services. The Weimar Republic printed billion-mark notes but the common unit of exchange was food or gold. The crunch comes when the military and civil service can't afford to eat, so walk away from doing the business of government.
Bankruptcy isn't the problem. What matters is whether people will accept the paper in exchange for goods and services. The Weimar Republic printed billion-mark notes but the common unit of exchange was food or gold. The crunch comes when the military and civil service can't afford to eat, so walk away from doing the business of government.