
Mathematics underlying the 2008 financial crisis, and a possible remedy - Anon84
http://arxiv.org/abs/0811.4678
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meterplech
There are a few serious problems with this. First, this could also have the
adverse result of making the eventual collapse even worse. I think that it is
much easier to handle less serious but more frequent collapses, as opposed to
the Great Depression once a decade.

Second, there's a reason states don't print their own currency and the EU has
adopted a common currency: it makes economic coordination so much more
efficient. If each state had its own currency we would waste efficiency
constantly exchanging currency, and out of state business would become subject
to the volatile exchange fund market. Sure, this idea may solve one problem,
but it certainly creates many more.

