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

Anders Sandberg anders at aleph.se
Tue Aug 6 12:12:37 UTC 2013

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

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