> They're completely right about all that local currency idiocy.
> Nostalgic claptrap for petit bourgeois romantics.
> Doug
Nostalgic claptrap etc. aside, what's anyone's take on Jane Jacobs' arguments about city economies impaired by the "false feedback" of national currencies?
In Cities and the Wealth of Nations, she makes the case that (a) macroeconomics, with its focus on the nation-state, is fundamentally flawed inasmuch as the basic engines of economies are cities; and therefore (b) a city with its own currency receives immediate, accurate feedback regarding its economic health. (Of course, there's lots more to it than this.)
My grasp of economics is weak at best, but this doesn't strike me as small-is-beautiful/bioregionalist romanticism. Or is it?
-- Best regards,
Duncan mailto:dclark at ptd.net