Many of the variables listed (money supply growth, banking dynamics, government deficits, and velocity) depend on confidence in the underlying fiat currency.
The key variable #1 to me is all these experiments are basically bullshit from a complex systems standpoint until we involve everyone, hence the U in "universal".
From a complex systems standpoint, it seems incredible intellectually dishonest to run an experiment in an isolated locality. Essentially, a hand wave of scaling the properties of specific and isolated local income to "universal".
Comments
Many of the variables listed (money supply growth, banking dynamics, government deficits, and velocity) depend on confidence in the underlying fiat currency.
The key variable #1 to me is all these experiments are basically bullshit from a complex systems standpoint until we involve everyone, hence the U in "universal".
From a complex systems standpoint, it seems incredible intellectually dishonest to run an experiment in an isolated locality. Essentially, a hand wave of scaling the properties of specific and isolated local income to "universal".