An idea that has been floating around in my head for a while, and is particularly salient now. Would it be appropriate to make a community wiki containing a "FAQ" on money and banking, with a corresponding single shared answer that addresses all of them? We do have some good answers floating in response to specific queries as is.

There are obvious shortcomings and concerns to doing this:

  • people less likely to get points on monetary questions in the future since much of it may be duplicate of what's in the community wiki
  • community wiki may prove hard to maintain and edit
  • usually we ask for only one question per thread to keep the scope of questions in check, so maybe weird to create an exception for a community wiki

There are obvious benefits to doing this:

  • we don't want to have to keep dealing with questions asking if fractional reserve banking is fraudulent or whatever
  • economies of scale to centralizing answers in one mega Q&A that we can redirect people to
  • we don't have enough community wikis, which may be meant for dealing with situations like this where a topic needs a lot of specific details that one person alone would be hard pressed to provide

So the questions:

Is a community wiki for money and banking appropriate?

If yes, what should be the scope of it?

Would you be willing to contribute to it?


I think a single wiki page for all these issues might be a bit too broad. I would agree that a "canonical answer" to questions like is "fractional reserve banking fraudulent" is probably appropriate. Whether it's a wiki answer or not is somewhat less relevant.

Also, QE (aka "printing money") as causing [hyper]inflation seems to be a popular theme in questions lately, surely because of the news. Something like that could also have a canonical answer.

On the other hand, there are some genuine academic controversies in this field, some of which have been asked here before, but alas in somewhat omnibus fashion (e.g. considering Werner 2014 as saying the same thing as McLeay et al. 2014... which they might not be actually doing.) I was mulling on asking a question about Jakab and Kumhof (2019) for some days now, but I'm still doing some reading on that, so I can hopefully ask more than "how controversial is this FMC [model/proposal]"? I can't imagine these kinds of questions being suitable for wiki answers.


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