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AGSOE: Arbeitsgruppe Physik sozio-ökonomischer Systeme
AGSOE 14: Poster Session
AGSOE 14.5: Poster
Wednesday, March 25, 2009, 18:10–20:00, P1B
Time Symmetric Monetary Systems — •Braun Dieter — Systems Biophysics, LMU München, Germany
With the current credit crisis, the problems of bank money creation is back in focus. We discuss criteria towards establishing monetary systems without money creation which still allow creditary dynamics. The ultimate aim is to develop a monetary system with an inherent mechanism of defining units of account.
The guiding principles will be the Noether theorem, linking the quantity of money with the time symmetry of monetary transactions, based on a physically inspired mapping between space-time and bookkeeping [1][2].
We propose a symmetric approach of balancing assets/liabilities of credits and assets/liabilities of deposits with a floating exchange rate. We show that under random transfer between agents, this system is stable and converges to a two-sided exponential distribution.
References:
[1] Physica A, 369, 714-722 (2006)
[2] Physica A 324, 266-271 (2003)