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Societies for the History of Economics

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Societies for the History of Economics <[log in to unmask]>
Date:
Tue, 28 Sep 2010 08:52:10 -0400
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Societies for the History of Economics <[log in to unmask]>
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Re: Dated currency
From:
Alan G Isaac <[log in to unmask]>
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On 9/27/2010 10:33 PM, Pat Gunning wrote:
> Is it not true that money that is due to die tomorrow would, in a world of reasonably astute people, die today?


Since the object was to flush money out of the underground economy,
the currency could "die" but come with a period where the gvt exchanges
for new currency at face value.

I think this is pretty common during currency "reforms".
The introduction of the new Iraqi dinar worked just like this, iiuc.

Cheers,
Alan

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