What does Goodhart’s Law imply?

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Inferior currency tends to replace superior currency.Monetary policy is effective only when applied over an extended period.Regulating one component of the money supply simply causes that component to lose significance.The money supply should increase only in line with the growth of real national income.

Explanation

Goodhart’s Law states that when a specific aspect of the money supply is regulated, that aspect tends to diminish in importance, as agents shift focus elsewhere.