We'll look back and wonder why we didn't anchor monetary policy in non-renewable energy to steer cheaply away from unsustainability
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One way to think about global warming is that energy usage has no "systemic cap" aside from market demand and discovery of fossil fuels. Maybe we could have organized monetary policy to encourage less wasteful of energy. Like cpu is cheap now, leads to less efficient code.
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Today we anchor monetary policy around price stability (and employment). Why not environmental stability too?
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Exactly.
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Tying currency to energy goes back to at least Buckminster Fuller.
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Now it uses energy.
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Personally, I dislike the current debt-based economy anyway.
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His logic: Monetary Policy omnipotence theorem: Price stability is a hard problem, which MP currently solves. Therefore MP can solve any hard problem. Reducing oil usage sans economic catastrophe is a hard problem. Therefore MP can solve it. QED
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