Comments on “From Commodity to Fiat and Now to Crypto: What Does History Tell Us?” — Back to the Future with Cryptocurrencies

Randall Morck
Authors registered in the RePEc Author Service: Markus K. Brunnermeier and Dirk Niepelt

Chapter 5 in Digital Currency Economics and Policy, 2020, pp 40-42 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Ilargely agree with Eichengreen’s historical parallels and conclusions, and so can only suggest extensions and amplifications. His discussion of emerging Western nation states monopolizing money creation to capture seigniorage, and more detailed description of US monetary history is excellent. The tension between competing versus monopolistic money creation is actually far older. At the beginning of written history, ancient Egyptians used a competing moneys — metals by weight, oils and grains by volume (Janssen 1975). Are cryptocurrencies resurrecting a world of multiple competing moneys?…

Keywords: Digital Currency; Economics and Policy; Finance; Cryptocurrency (search for similar items in EconPapers)
JEL-codes: G2 O33 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (1)

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