Economic Analysis

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Understanding Modern Monetary Theory part two

Decisive in the process is that the state also defines the currency accepted by the state as payment in which taxation levies must be paid. The exchanges between private individuals is less important though significant in the taxation of those transactions, and as legal tender. This establishes a ranking of convertibility that places the currency in which payment of taxation is accepted as the highest form. Knapp's concept of money is what the sovereign concept of money evolved toward nearly seventy five years after the publication of Knapp's theory.

Understanding Modern Monetary Theory, part one

The purpose for this set of two flyers is to describe what can be done when a sovereign nation restores its ability to issue fiat debt free money. A very important point to remember here is that the US already has a fiat based currency. "Fiat," as a word means "by declaration." The odd pieces are that although the U.S. has had a fiat currency since 1971 and the banking management practices reflects that fact, the conduct of fiscal policies continues to assume that we are still operating with a gold based currency and that we have to borrow our money into existence.

The Legacies of John Maynard Keynes by Tadit Anderson

John Maynard Keynes (June 1883 – 21 April 1946) was a British economist whose ideas should have affected the theory and practice of modern macroeconomics and fiscal policies much more than they did. He identified the causes of business cycles, and advocated the use of fiscal and monetary measures to manage and reduce the adverse effects of economic recessions and depressions. His ideas are the basis for the school of thought known as Keynesian economics.

Statement of Sheila C. Bair, Chairman, Federal Deposit Insurance Corporation on the Causes and Current State of the Financial Crisis before the Financial Crisis Inquiry Commission;... Jan. 14, 2010 (Paper)

Statement of Sheila C. Bair, Chairman, Federal Deposit Insurance Corporation on the Causes and Current State of the Financial Crisis before the Financial Crisis Inquiry Commission; Room 1100, Longworth House Office Building
January 14, 2010

Go to the original posting for graphs at
http://www.fdic.gov/news/news/speeches/chairman/spjan1410.html

Hyman Minsky and the Dilemmas of Contemporary Economic Method By Duncan K. Foley (Paper)

Hyman Minsky and the Dilemmas of Contemporary Economic Method Duncan K. Foley

December, 1998

Department of Economics, Barnard College, After January, 1999, Department of Economics, Graduate Faculty, New School University, 65 Fifth Avenue, New York, NY, 10003.

Abstract

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