hippoblog

Economics... it's fun and useful!

The Monetary Economics of Thurston Howell III

But on Gilligan's Island (and in the Kurdish rebel territories, and briefly in Baghdad), people who are already used to making their exchanges in slips of unbacked paper can continue to do so profitably without the hand of government. The invisible hand of the market serves them better -- even when dealing in government paper.

* Ray, 9/01/2004 02:15:39 PM

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