Wednesday, February 24, 2010

Ann Arbor: adventures in monetary policy

Should Ann Arbor have its own currency to promote local business?

The mind boggles at how one will define local for the purposes of access to the local currency. Is a locally-owned store selling national brands local? What about a national chain that sells local products? What about a Michigan-only chain like Kilwin's?

Decision costs will be lower for whose face gets on the $1 bill: can it be anyone but Bo? Of course, figuring that out will require another grant!

Methinks the DDA's $6000 could have been better spent.

Hat tip: Charlie Brown

1 comment:

Jason Kerwin said...

I'm bemused by the fact that they didn't think to ask of the faculty in the economics department or the Ford School about whether this was a good idea before throwing money at it. What's the point of having a university if you're not going to use it?