Ideal Money

From the Austrian view the idea of a well-managed money is worrisome because they view central banking as a counterproductive practice. Conversely, from the central banking point of view there is a need to prepare for and buffer economic crises.

George Selgin attests that a production factor based monetary policy would provide better money for the economy than the current CPI related methods.

This suggests that there can be worse or better targets for a monetary policy.

Thus well-manged, whether or not it is even possible, could be seen as some theoretically optimized target (as if some future AI or omniscient being could organized it for us).

A world in which centrally banked money is optimally managed is comparable to a world in which bitcoin is effectively global legal tender, and a world in which all central banks value stabilize versus bitcoin.

Each result achieves the goal of the proposal Ideal Money.