Demurrage (currency) subsidy. Both inflation and demurrage reduce the purchasing power of money held over time, but demurrage does so through fixed regular fees, while inflation does it in a variety of ways. Inflation is certainly not always everywhere a monetary phenomenon. Inflation is not always easy to predict & it does not stay fixed through time, but the level of demurrage is fixed by the Government. Gresham's law that "bad money drives out good" suggests that demurrage fees would mean that a currency would suffer more rapid circulation than competing forms of currency. This led some such as German-Argentine economist Silvio
Economic law V.V. Laptev. After debate, this position was codified by the decrees of the CPSU and the USSR Council of Ministers during 1970–1975 and finalized in the 1977 Soviet Constitution. Economic law In the legal system of the Soviet Union, economic law was the legal theory and system under which economic relations were a legal discipline independent of criminal law and civil law. In the Law of the United States and some other legal systems this approximately corresponds to the commercial law (business law). In the Soviet legal system, the purpose of the economic law is to regulate the relations arising