{"id":6446,"date":"2004-09-01T09:17:54","date_gmt":"2004-09-01T16:17:54","guid":{"rendered":"http:\/\/hill-kleerup.org\/blog\/wp\/2004\/09\/01\/howelling-mad.html"},"modified":"2004-09-01T09:17:54","modified_gmt":"2004-09-01T16:17:54","slug":"howelling_mad","status":"publish","type":"post","link":"https:\/\/hill-kleerup.org\/blog\/2004\/09\/01\/howelling_mad.html","title":{"rendered":"Howelling Mad"},"content":{"rendered":"

\"howell.gif\"An entertaining (and, so far as I can tell, pretty reasonable) analysis of The Monetary Economics of Thurston Howell III<\/a>, which answers the immortal question, “Why the hell do any of the castaways on Gilligan’s Island care a whit for Thurston’s money?”<\/p>\n

In later episodes, monetary exchange takes place in US paper currency. Was it impossible to recover the gold from the lagoon? Perhaps the writers found it more convenient to deal in the money the television viewers themselves were most familiar with. We might dismiss this as economic naivete on the part of the writers, but recent history provides evidence that fiat paper can, in fact, outlive its government. Not only that, but post-fiat <\/em>money — dead government currency — can out-compete American greenbacks!<\/p>\n

(via J-Walk<\/a>)<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

An entertaining (and, so far as I can tell, pretty reasonable) analysis of The Monetary Economics of Thurston Howell III, which answers the immortal question, “Why the hell do any…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[15],"tags":[],"class_list":["post-6446","post","type-post","status-publish","format-standard","hentry","category-media"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":32075,"url":"https:\/\/hill-kleerup.org\/blog\/2013\/01\/05\/the-macroeconomics-of-middle-earth-hobbit-edition.html","url_meta":{"origin":6446,"position":0},"title":"The Macroeconomics of Middle-earth (Hobbit Edition)","author":"***Dave","date":"Sat 5-Jan-13 1:00pm","format":false,"excerpt":"Brilliant indeed. And don't miss the discussion in the comments.Reshared post from +Lucas WimanThis is brilliant:\"The full economic impact of Smaug can only be understood by recognizing that the dragon's arrival resulted in a severe monetary shock. On the left is shown Smaug's hoard. On the right, for purposes of\u2026","rel":"","context":"In "~PlusPosts"","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":32463,"url":"https:\/\/hill-kleerup.org\/blog\/2013\/02\/08\/goldbugs-and-tea-parties.html","url_meta":{"origin":6446,"position":1},"title":"Goldbugs and Tea Parties","author":"***Dave","date":"Fri 8-Feb-13 9:14am","format":false,"excerpt":"So the Tea Party is usually thought to be hyper-conservative regarding the US Constitution. Which doesn't seem to relate to its sudden fascination with states minting their own money, as the Tea Party Nation demonstrates: In an era where the Federal Government is predisposed to the endless erosion of personal\u2026","rel":"","context":"In "Dolts"","block_context":{"text":"Dolts","link":"https:\/\/hill-kleerup.org\/blog\/category\/dolts"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/hill-kleerup.org\/blog\/wp\/wp-content\/uploads\/2013\/02\/vaTreasury5dolUncRaw1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/hill-kleerup.org\/blog\/wp\/wp-content\/uploads\/2013\/02\/vaTreasury5dolUncRaw1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/hill-kleerup.org\/blog\/wp\/wp-content\/uploads\/2013\/02\/vaTreasury5dolUncRaw1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/hill-kleerup.org\/blog\/wp\/wp-content\/uploads\/2013\/02\/vaTreasury5dolUncRaw1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":14553,"url":"https:\/\/hill-kleerup.org\/blog\/2009\/04\/15\/because-youre-guilty-until-you-convince-us-youre-innocent.html","url_meta":{"origin":6446,"position":2},"title":"“Because you’re guilty until you convince us you’re innocent”","author":"***Dave","date":"Wed 15-Apr-09 9:07pm","format":false,"excerpt":"The TSA's official blog tries to address questions over a recent incident at St Louis International where discovery that a passenger was flying with $4710 in cash triggered some unpleasantness. In the original entry, Bob the TSA Blogger noted: Movements of large amounts of cash through the checkpoint may be\u2026","rel":"","context":"In "Home Improvement"","block_context":{"text":"Home Improvement","link":"https:\/\/hill-kleerup.org\/blog\/category\/home-improvement"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.hill-kleerup.org\/blog\/images\/tsa-plastic-bag.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":29947,"url":"https:\/\/hill-kleerup.org\/blog\/2012\/08\/24\/paging-yukon-cornelius.html","url_meta":{"origin":6446,"position":3},"title":"Paging Yukon Cornelius","author":"***Dave","date":"Fri 24-Aug-12 7:14pm","format":false,"excerpt":"Okay, aside from the cool idea of a Fort Knox full of GOLD! (okay, maybe paging Miss Pussy Galore, instead), can anyone explain to me what the actual value of a gold standard is? \u00a0Because money, ultimately, is based on \"I'll give you this for that,\" and gold has no\u2026","rel":"","context":"In "~PlusPosts"","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"https:\/\/images0-focus-opensocial.googleusercontent.com\/gadgets\/proxy?container=focus&gadget=a&resize_h=100&url=http%3A%2F%2Fthinkprogress.org%2Fwp-content%2Fuploads%2F2012%2F02%2Fgold-bars-300x225.jpg","width":350,"height":200},"classes":[]},{"id":20340,"url":"https:\/\/hill-kleerup.org\/blog\/2011\/02\/27\/fiat-lux.html","url_meta":{"origin":6446,"position":4},"title":"Fiat Lux","author":"***Dave","date":"Sun 27-Feb-11 2:21pm","format":false,"excerpt":"In case of a loss of lighting, light fixtures will drop down from the ceiling above you ...","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2421,"url":"https:\/\/hill-kleerup.org\/blog\/2002\/06\/26\/one_nation_goin.html","url_meta":{"origin":6446,"position":5},"title":"One nation going bonkers","author":"***Dave","date":"Wed 26-Jun-02 8:04pm","format":false,"excerpt":"As one might have predicted, politicians (of both parties) are going nuts over the Pledge of Allegience ruling. President Bush considers the ruling \"ridiculous.\" \"The Supreme Court itself begins each...","rel":"","context":"In "Politics & Law"","block_context":{"text":"Politics & Law","link":"https:\/\/hill-kleerup.org\/blog\/category\/politics-law"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/posts\/6446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/comments?post=6446"}],"version-history":[{"count":0,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/posts\/6446\/revisions"}],"wp:attachment":[{"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/media?parent=6446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/categories?post=6446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/tags?post=6446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}