It has been a while since we last discussed then latest developments in econophysics, the field trying to blend the methods of Physics (and sometimes its lessons) into Economics. The most mysterious and often counter-intuitive field of Physics is Quantum Physics. The same could be say of Monetary Economics within Economics. So why not study the Quantum Physics of Money?
Stephen Ternyik does this for us, and the result is expectedly disturbing and unintelligible. I spent more time than I should on trying to understand the abstract, and the paper itself was not too helpful. SO here is the abstract, and maybe a reader can translate this into something that makes sense to me:
Stephen Ternyik does this for us, and the result is expectedly disturbing and unintelligible. I spent more time than I should on trying to understand the abstract, and the paper itself was not too helpful. SO here is the abstract, and maybe a reader can translate this into something that makes sense to me:
The marginal minimization of the reserve requirement on demand deposits is the single cyclical cause behind the long-term crises of the monetary production economies and progressively decreases the time value of money on economic productivity. The total economic cost of this monetary and banking system (fiat credit a priori via private commercial banks; fiat money a posteriori via public monetary police) is the loss of dynamic efficiency in the space-time production structure, i.e. the quantitative increase of entropic volatility in the
monetary production economy equals the quantitative increase of the fiat credit quantum (mechanically and thermodynamically). A radical maximization of the reserve requirement on demand deposits is the basic economic remedy for the temporal monetary stabilization of the space-time production structure, according to the natural/physical laws of human economic productivity.
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