Ainda as Real Bills

A resposta de Fekete ao artigo que aqui tinha colocado esta tarde.

My detractors theorize that prices would be lower in the absence of real bills circulation. They conclude that clearing devices are inflationary as they “reduce the demand for gold”. This theorizing is just as idle as trying to find out how much carting would cost if the carter shunned the cart and started carrying heavy loads on his own back once more. Guess what: this question could never be answered. No carter would undertake carting on his own back after the wheel has been invented! Likewise, real bills would step into the shoes of money whenever gold coins were in short supply. Like it or hate it: the wheel has been invented.