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Innovative Government Issued Currencies

Submitted by on November 24, 2011 – 3:54 pmNo Comment

Until now, governments at all levels have been using three main policy instruments to encourage behaviors they consider desirable: regulations; subsidies for behaviors they want to encourage; and taxes for what they would like to discourage. However, all three approaches have their limits. Regulation can be a crude and slow tool to bring about the desired change. Usually, it has to settle for a compromised standard, and requires continuous enforcement to be effective. Furthermore, both regulations and taxes are often watered down due to lobbying efforts. Subsidies become scarce during recessions and periods of budget reductions, and tend to be cut whenever they enter in competition with more vital needs. “Is there another policy instrument available to obtain rapid, large scale behavior changes without increasing the budgetary burdens on public authorities?”



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