Reihan Salam: "Miles Kimball on How Electronic Currency Could Yield True Price Stability" →

In his November 6, 2012 post on National Review Online, Reihan Salam begins this way:

Miles Kimball has written a stimulating, and quite convincing, short article for Quartz arguing that governments should swap electronic currency for physical currency as the “unit of account,” i.e., as the “yardstick for prices and other economic values.” While paper currency could be retained for everyday transactions, its value would fluctuate relative to  the electronic currency that would serve as an anchor.

And I especially like his later phrase:

Kimball’s discussion is nuanced…

In addition to his November 26 post, Reihan also tweeted this today:

I’m a big fan of the @mileskimball to replace paper money with electronic money as the unit of account: http://qz.com/21797/the-case-for-electric-money-the-end-of-inflation-and-recessions-as-we-know-it/ …