Saturday, December 20, 2014
Payment for Additional Hyperinflation Explanations
I count 49 different explanations for hyperinflation in my collection as of Sat Dec 20th, 2014.
I think it is fun that there are so many different, yet reasonably, ways of thinking about how hyperinflation works. Given how many I have found so far, I am sure there must be more good explanations out there. If there are other economic theories with different explanations for hyperinflation I would really like to add them to my collection.
I have decided I will pay $30 by paypal or BitCoin to someone who comments here with a new explanation that in my judgement is different from any in the existing collection but is as good or better than the average explanation so far. It should fit the experimental evidence for at least many historical hyperinflations.
I am not looking for different reasons that governments spend more than they get in taxes and will not pay for such things. Saying "supply shock", "war", "corruption", "external debt", "drop in taxes", "incompetence", "madness", etc does not earn anything.
I am looking for more good theory for the mechanics of how hyperinflation works. The why, the how, the process of hyperinflation. See existing explanations for an idea of the type of thing I am looking for and to be sure you are not submitting something already in my collection.
Please forward this offer to anyone you think might be willing and able to submit an explanation.
This offer starts today, Dec 20, 2014. I can afford at least 10 new explanations and even 5 good explanations every month. I may reduce this offer for future submissions if they come much faster than that. If I don't get many I may up the offer and if so the increase in payment will also be retroactively extended to previous winners.
To submit an explanation just comment below. The full explanation must be in the comment but it is good to also include a link to a source if you have one.