[arin-ppml] Some observations on the differences in the varioustransfer policy proposals

Tom Vest tvest at pch.net
Mon Oct 20 12:54:58 EDT 2008

On Oct 20, 2008, at 11:04 AM, Milton L Mueller wrote:

> Just for the record, Tom's analogies between banking/currency and the
> management of IP addresses have no foundation in economic theory.
> IP addresses are NOT a medium of exchange, store of value, and unit of
> account; routing bloat is NOT "inflation;" etc. etc.

Thank you Milton.
Between your cumulating record of meaningless-to-false assertions on  
the topic of Internet addressing, your utter lack of any expertise in  
banking or monetary economics, and the awe-inspiring success of  
orthodox theories about how banking works, I could scarcely ask for a  
more ringing endorsement.

For others:

Victor Li, Federal Reserve Bank of Atlanta, "Is Why We Use Money  
  -- clarifies what a medium of exchange is/does

José De J. Noguera, "The Appearance of Carriers and the Origins of  
-- about how environments like the NSFNet can foster the selection/ 
promotion of some simple input as a medium of exchange

Stephen Williamson, Federal Reserve Bank of Richmond, "Limited  
Participation and the Neutrality of Money"
-- about consequences of the asymmetry between delegation  
relationships like RIR->LIR and LIR-> end user 

Sebastien Lotz and Guillaume Rocheteau, Journal of Money, Credit &  
Banking (Vol. 34 No. 3: Aug. 2002), "On the Launching of a New Currency"
-- Name is self-explanatory, relevant to the current dilemma

Geoffrey Wood, "Governance or regulation? Efficiency, Stability, and  
Integrity in the Financial Sector"
-- Name is self-explanatory

Dozens more, at least, on request.

FYI, before actually working in the Internet sector, one of my PhD  
fields was trade and MONETARY policy. While in grad school I worked  
for the CFR/Pacific Council on International Policy for four years,  
during which I was fortunate enough to to serve as rapporteur for  
dozens of member briefings by various senior monetary policy  
practitioners -- cabinet-level treasury officials, central bankers,  
IMF and IBRD executives, etc.

Granted, that doesn't make me anybody's expert -- much less an arbiter  
of the foundations of economic theory.
Lucky for us, we have you to take care of those duties!

We missed you in Los Angeles,


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