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There Might Be Hope For The Economy After All

| Learning | November 5, 2014

(I am teaching my students about bimetallism in the 1890s.)

Me: “So, if you move your economy to bimetallism from the gold standard, you always get inflation, because gold plus silver always gets you more currency than just gold. One plus anything is always more than one.”

Student #1: “Unless you add a negative number.”

Me: *ready for this* “Yes, I knew someone was going to say that. But until you can open your wallet and pull out negative money, your argument is invalid.”

Student #2: “I thought that’s what a credit card was.”

Me: “…well-played, [Student #2].”

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