Tag Archives: theory of money

Thousands of years ago, money was a means of debt payment, archaeologists and anthropologists say. Useful summary of the history.Science NewsConflict reigns over the history and origins of money Bruce Bower

Pass it on.heteconomistA Simple Modern Money Tale – Buckwell Island Establishes a CurrencyPeter Cooper

Egypt’s monetary system began with barter. It was primarily based on agriculture – grain. This evolved into official Graineries and a farmer would then take his crop to the Grainery and receive a receipt. With time, the monetary system evolved where people would then accept these receipts (paper money) in payment. The receipt  would have been a credit slip representing the liability of the granary.Armstrong EconomicsThe First Representative Form of Money Martin Armstrong

MMT.Makes MogulTheBitcoin Fallacy-Back to the Gold Standard Jonah Ho

Read the comments, too. Just like most economists, Bitcoin fans overlooked transaction costs.Wolf StreetBitcoin Proves You Cannot Have Your Digital Cake and Eat it Too Nathan McDonald, Sprott Moneyalso The EU is targeting bitcoin anonymity, saying the measure is needed to tackle tax evasion and other crimes. Anonymity of the cryptocurrency holders is a built-in feature that the EU hopes to undermine.The new rules concerning cryptocurrency passed on Friday by the European Parliament and the...

Some interesting history.MoneynessAn example of tax-driven money during the greenback eraJP Koning

I believe I have a better understanding of Eric Lonergan's arguments regarding whether fiat money is a liability of a state with currency sovereignty. (This discussion does not apply to commodity money, or a state using a money issued by an entity not under its direct control.) If I am correct, I would phrase his argument as: the existing accounting treatment of money is incorrect, since it does not account for seigneurage revenue. (Seigneurage has multiple English spellings; I was using...

One of the topics I discussed in Abolish Money (From Economics)! returned to Twitter today, and I just want to give a long form version of my arguments. The debate was with Eric Lonergan (web site) regarding where money should show up on the government's balance sheet. I discussed this topic in Chapter (Section?) 14 of Abolish Money -- "Money as Debt." I am keeping the core of my argument short, since I am actually just applying boring mainstream logic to the question. As that section of...

Link to paper by Ramaa Vausdevan Radical Political Economy The Significance of Marx’s Theory of Money Posted by David Fields

The latest iteration in the controversy over theory of money, money creation, and historical origins of money use.Social Democracy For The 21St Century: A Post Keynesian PerspectiveLarry White on the Origins of Coined Money: A CritiqueLord Keynes