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Isn't it harder to imagine a baby-sitting recession or inflation in a simple bookkeeping system? It is funny then how introduction of "mediator" paper coupons changes behavior of participants.

It seems obvious that changing from a bookkeeping noticeboard to something that "looks like money" would change behaviour. In fact, it seems so obvious that it should have already been studied...

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Nov 18th, 2009 at 06:12:59 PM EST
[ Parent ]
But money neutrality is an axiom of neoclassical economics so...

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
by Migeru (migeru at eurotrib dot com) on Wed Nov 18th, 2009 at 06:18:31 PM EST
[ Parent ]
So neoclassical economics is a crock of shit.

But we knew that already, didn't we?

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Nov 18th, 2009 at 08:07:33 PM EST
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