Thermodynamics vs. kinetics

posted by
January 10, 2011
The Distributed Republic
by Jonathan Wilde  
Posted in Commentary

"Right now, the worldwide monetary system is in an extremely unstable state of affairs. The instability is caused by debt, fiat currency, and monetary inflation. We have ample thermodynamic knowledge of that fact. A more stable state of affairs lies at some point in the future: a world with much less debt, an end to fiat currencies, and lack of central monetary policy. What we don't have is kinetic knowledge: when that future world will come about, how quickly, and in what manner." (01/09/11)  

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