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Re: Geoecon: Who needs money anyway? (was Re: <nettime> FW: Money a Wast
information overload on 14 Mar 2001 15:19:33 -0000

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Re: Geoecon: Who needs money anyway? (was Re: <nettime> FW: Money a Waste, Economists Conclude)

Aye, but there's the rub.  Or the linchpin, if you will:  i.e., transaction
speed (which, it's safe to say, may closely approximate transaction cost).
Clearly we'll have to wait on the fiber-optics folks to get their act
together before any of this happens. Then look out Milton Friedman and his

Just out of curiosity, does anyone on the list know what's going on as far
as the state of photonics/optoelectronics/fiber optics is concerned?  Or
where to go for recent literature (articles, links, sites, etc.)?  Please
email me in private to reply to this portion.  Thanks!

In some ways, there is something oddly dystopic about this scenario, right
alongside its utopic aspect.  I myself would most likely err on the side of
caution and lean towards the former assessment - that it's more of a
dystopian blueprint than a utopian one.  

Just one person's opinion, nothing more.


R. A. Hettinga wrote:

Ian Grigg <mailto:iang {AT} systemics.com>observed there that if transaction
speed was fast enough, the market would probably converge to a
world without cash at all.


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