This blog post asks whether a radical rethinking of Laketown monetary policy could have stimulated Middle Earth GDP following the shock of Smaug taking so much money out of circulation. Should have come off the gold standard and introduced fiat currency. https://worthwhile.typepad.com/worthwhile_canadian_initi/2012/12/the-macroeco.html
This blog post asks whether a radical rethinking of Laketown monetary policy could have stimulated Middle Earth GDP following the shock of Smaug taking so much money out of circulation. Should have come off the gold standard and introduced fiat currency.
https://worthwhile.typepad.com/worthwhile_canadian_initi/2012/12/the-macroeco.html