The Craziest Brilliance You’ll Read Today

Any Faithful Readers who know my sister’s father-in-law, Dan Hamermesh, know him to be, ummm, I believe that ‘eccentric’ is the nice way of saying it.   He is undoubtedly brilliant, but also frequently completely insane.

I can only hope that it’s his brilliant side that had the following response on hearing the government’s announcement of four new penny designs:

What a waste of resources — and what a move inside the production-possibility frontier! Each penny costs much more than 1 cent to manufacture.

Mostly, I hope that it was his brilliant side, because that’s exactly the reaction I’ve had!  When lots of serious people are calling for the demise of the penny, when we are discussing handing God Emperor Paulson 700 billion dollars, why the hell is the U.S. spending money to create new designs of a coin so useless that I, as cheap a cheap-ass as you will ever find, literally throw them in the trash most of the time?

I’m not so sure about Dan’s call for the end of the dollar bill also – although I’m a big fan of a useable dollar coin, I think that a one dollar denomination is certainly still needed! – so, maybe that part was his crazy side.  But please, for the love of all that is holy, refuse the penny!


One Response to The Craziest Brilliance You’ll Read Today

  1. We could solve an awful lot of these problems by simply revaluing the dollar: $10 old = $1 new. Then we could make pennies again without it costing more than a penny to make them (which is truly a form of insanity).

    I’m totally down with dollar coins, too, if only because the cost of a dollar coin is amortized over its 18-year life.

    It would be a little hard to get used to $1M being real money again, though. Or the idea that $10k is a *lot* of money for a car, rather than the place you probably have to start if you want a car that will last….

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