Heterodox
Silly question? Brian is responding to someone who asserted that in effect government does. Actually, it used to be that government confiscated property to move it to government use, but that is no longer considered "proper," unless the police do it on other pretexts. In a monetary production economy, taxes are payable in "money," that is, the government's currency. What David Andolfatto apparently means is that one's purchasing power declines as a result of taxation, which is true....
Read More »Brian Romanchuk — Heterodox/Mainstream Views On Banking
David Andolfatto recently published "Reconciling Orthodox and Heterodox Views on Money and Banking," which discusses the theoretical split between recent mainstream thinking and heterodox views on banking. From my perspective, he is addressing heterodox critiques of mainstream thinking that I am not particularly interested in; in fact, based on his criteria, I would be closer to "mainstream" than "heterodox" -- as would possibly be Hyman Minsky. I would view the problem with mainstream...
Read More »Jason Smith — It’s the 80s!
Interesting look at the history.Information Transfer EconomicsIt's the 80s!Jason Smith
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