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14 Nov '12, 6pm

Bitcoin Money: Douglas French - Currencies of the Future - Wed, 14 Nov 2012 18:24:02: Douglas French - Currencies of…

“The answer to the currency question may not be to reform government in a way that it can’t reasonably be reformed, but to turn loose entrepreneurial genius to solve the problem. […] This is a particularly risky area. There are currency entrepreneurs sitting in jail for competing with the government.” - “Not all individuals gain [knowledge of a currency’s worth] all at once. A small number of people recognize the marketability of certain goods before most others. These might be considered currency entrepreneurs.” - “While people contend that money must be this or must be that, or come from here, or evolve from there, Menger, the father of the Austrian school, seems to leave it up to the market. When a money becomes uneconomic to use, it loses its marketability and ceases to be money. Other marketable goods emerge as money.” - “Governments are destroying their currencies, a...

Full article: http://www.bitcoinmoney.com/post/35714432498/currencies-o...

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