Hacker News new | ask | show | jobs
by dermesser 1048 days ago
But that's only because (unfortunately for the airlines) miles are not a universally accepted currency. Just like some poorer countries needing to be bailed out by the IMF, despite issuing their own currency.
1 comments

The strange way Chuck E Cheese is like a central bank.
You joke, and yet [Lucas 1988] uses an amusement park as a toy model to demonstrate how monetary shocks can affect real economic activity. The key difference between this and Chuck E. Cheese, though, is that Chuck E. Cheese is the only merchant that accepts their tokens for any sort of payment.

[Lucas 1988] https://home.uchicago.edu/~vlima/courses/econ203/fall01/Luca...