The new work is subtitled "A New Information Theory of Money."[1] But how new is it? I have not read the full work yet, but it seems quite similar to the Austrian school's long held and well developed explanation of prices as information. [2]
Yet, it's easier to predict the future value of any contract in fiat currency governed by central bank than it's to predict it's value in gold standard.
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[ 3.1 ms ] story [ 13.4 ms ] thread[1] https://docs.google.com/viewer?url=https%3A%2F%2Famericanpri...
[2] http://austrianeconomics.wikia.com/wiki/Price