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pfannkuchen | 25 days ago
If we positively mandate full reserve free banking with no central bank and no state issued currency, that would eliminate I think all of the banking corruption I have in mind. I’m not sure about usury under the classical definition, if we run into problems still that might have to go too (though I do see downsides to innovation because loans are like crack cocaine for innovation, complete with the overdose deaths).
Lobbying is more difficult to make illegal because influence is much more nuanced than first-order* banking and influence will route around basically any protections given enough time. But today we don’t even try to make it illegal. Perhaps a meta-scheme where the lobbying rules periodically change according to some secret sequence could disrupt things enough to make it difficult to route around.
* First order in the sense that much of the complexity comes from playing with the primitives we have today and not from the primitives themselves, and the primitives I prefer are much clunkier to play with.
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