Don't know who he is, but you know he's at least an aspiring junior deputy economist.
And while we're on the topic, the highest denominated bills in the history of the world;
It still amazes me to this day as to how many adults do not understand why you just "can't print off more money." What a lot of people don't know, freemarketers and libertarians as well, is that if you can explain to people why you can't just "print off more money" you've already sent that soul on the road to become a capitalist.
I'm really really curious as to what the 1 gajillion Hungarian note could purchase in 1946. Please tell me it's only a loaf of bread or something and I'll die laughing.
ReplyDeleteDon't read the comments to this post or your head will explode. http://econlog.econlib.org/archives/2008/07/the_end_of_the.html
The sad thing is that those are the readers that actually follow economics blogs. Who knows the idiocy running through the heads of those that don't read such sites.
Gee, I seem to remember one candidate essentially making this his platform during the run for the 2008 Republican nomination...
ReplyDeleteBut, hmmm, from what I remember he was a lone quack and the only one spouting nonsense, and as such, justifiably attacked from both the right and left. Oh, well.
Just because Ron Paul had some sensible economic ideas does not mean he was any less of a quack. I'm sure every candidate has at least a few sensible ideas. I betcha even Dennis Kucinich had some... actually, now that I think about it, he really didn't, so I guess he's an exception to the rule.
ReplyDeleteRy: The billion-billion pengo note was actually never put into circulation.
ReplyDeleteThe hundred million billion pengo was, however (scan here: http://www.nostate.com/43/956-million-for-a-beer-the-price-of-central-banking-in-zimbabwe/) and withdrawn days later. Can't have been worth much!