Is there an example of an economic system with monetary inflation and deflation mechanisms being crowd-driven?
@davealevine How big is that set? Big enough to be called a crowd? Or an oligarchy with a central banker dictator?
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@vgr oh for sure a crowd. This shows up in things like the amount of average debt / ebitda multiples in LBOs and M&A. -
@vgr The concept could be extended to private market valuations as well. Preferred equity is a form of debt. Higher valuations = more money. - Show replies
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