Post
Topic
Board Economics
Re: Blockchain = Powerful Tool for Keynesian Monetary Policy
by
cunicula
on 21/11/2012, 03:11:44 UTC
Suppose the central bank controls 51% of hashing power and wants to achieve a stimulus equivalent to a 3% increase in inflation.

Simply demand a txn fee equal to 3% of coin-age (with age measured in years). This is just like instantaneously increasing the inflation rate by 3%.

Yes. To stimulate spending, you must increase the cost of spending money. GENIUS!

Yes, I admit that economics can be counterintuitive. It helps clarify things when you consider specific alternative options.

(i.e. in order to avoid being taxed, I will ... )
Then check if your strategy involves spending. If it does, the government has gotten its wish.