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A sign of the times

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[unable to retrieve full-text content]While shopping online, I noticed a retailer with the following payment options: I’m no expert on bitcoin, so please tell me if any of my assumptions are incorrect: 1. Bitcoin is increasingly widely used as a store of value and a medium of exchange, but not as a unit of account. In other words, retailers […]

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While shopping online, I noticed a retailer with the following payment options: I’m no expert on bitcoin, so please tell me if any of my assumptions are incorrect: 1. Bitcoin is increasingly widely used as a store of value and a medium of exchange, but not as a unit of account. In other words, retailers […]
Scott Sumner
Scott B. Sumner is Research Fellow at the Independent Institute, the Director of the Program on Monetary Policy at the Mercatus Center at George Mason University and an economist who teaches at Bentley University in Waltham, Massachusetts. His economics blog, The Money Illusion, popularized the idea of nominal GDP targeting, which says that the Fed should target nominal GDP—i.e., real GDP growth plus the rate of inflation—to better "induce the correct level of business investment".

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