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Quercus Robur wrote:(not an economics person)
Ultimately fiat but based on the most rational system for its maximisation which I should think would be what corresponds most closely to a system that satisfied our needs most effectively. Wouldn't basing it on a commodity be a bit dangerous - what if we outgrew the commodity? Also our needs are not satisfied only by commodities and basing the whole system on one would push people into consuming more when they might be consuming more efficiently instead
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