by Summary:
The title is snark, of course. The only difference between the money system we’ve imagined and the one we are actually using is the terminology we apply to it. We call the government’s particular fiat-money “U.S. dollars.” We call the “Citizen’s Net Gain” our federal budget “deficit.” We call the savings accounts the government makes available to citizens and businesses “Treasury bonds”—and we imagine the government is “borrowing” the dollars being deposited in them. Finally, we call the amount of fiat-money that has been sequestered in the Treasury bond savings accounts our “national debt.” Other than these minor differences in terminology, our American money system is exactly the fiat-money we’ve just imagined.... New Economic PerspectivesWouldn’t it be great if America had a
Topics:
Mike Norman considers the following as important: currency issuer v. users, currency sovereignty, MMT
This could be interesting, too:
The title is snark, of course. The only difference between the money system we’ve imagined and the one we are actually using is the terminology we apply to it. We call the government’s particular fiat-money “U.S. dollars.” We call the “Citizen’s Net Gain” our federal budget “deficit.” We call the savings accounts the government makes available to citizens and businesses “Treasury bonds”—and we imagine the government is “borrowing” the dollars being deposited in them. Finally, we call the amount of fiat-money that has been sequestered in the Treasury bond savings accounts our “national debt.” Other than these minor differences in terminology, our American money system is exactly the fiat-money we’ve just imagined.... New Economic PerspectivesWouldn’t it be great if America had a
Topics:
Mike Norman considers the following as important: currency issuer v. users, currency sovereignty, MMT
This could be interesting, too:
Mike Norman writes Jared Bernstein, total idiot. You have to see this to believe it.
Steve Roth writes MMT and the Wealth of Nations, Revisited
Matias Vernengo writes On central bank independence, and Brazilian monetary policy
Michael Hudson writes International Trade and MMT with Keen, Hudson
The title is snark, of course.
The only difference between the money system we’ve imagined and the one we are actually using is the terminology we apply to it. We call the government’s particular fiat-money “U.S. dollars.” We call the “Citizen’s Net Gain” our federal budget “deficit.” We call the savings accounts the government makes available to citizens and businesses “Treasury bonds”—and we imagine the government is “borrowing” the dollars being deposited in them. Finally, we call the amount of fiat-money that has been sequestered in the Treasury bond savings accounts our “national debt.” Other than these minor differences in terminology, our American money system is exactly the fiat-money we’ve just imagined....New Economic Perspectives
Wouldn’t it be great if America had a fiat-money
J. D. Alt