[ExI] "Crypto Coin Law" vs "Law of the Crypto Coin"?

[Anders Sandberg]

On 2013-08-06 12:10, Brent Allsop wrote:
>
> What do you think about the certainty of economic growth?  Do you 
> think this is as reliable as something like "Moore's law" and/or 
> "Kurzweil's law of accelerating returns"?

Empirically, a 2% growth rate is what economists call a "stylized fact" 
- it seems to be roughly true, although the details are bedevilled. When 
I looked at long term historical data like Angus Maddison's data set 
they seemed to back it up over at least a millennial, possibly 
multimillennial timescale.

>   If you think economic growth is deserving of the term 'law', then is 
> it not, then, a mathematical certainty that, if the economy grows 
> exponentially, then the demand for any limited currency in that 
> economy must accelerate, exponentially?

Demand for a limited resource does not always grow with the economy and 
population. Consider the collapse of the stamp market as the hobby fell 
out of fashion.

-- 
Dr Anders Sandberg
Future of Humanity Institute
Oxford Martin School
Oxford University

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.extropy.org/pipermail/extropy-chat/attachments/20130806/9eb68ccd/attachment.html>