Month: July 2022

As promised, this week I will begin try to dispel the view that coins used to be commodity monies.

Comments and responses on the Modern Money Primer Part 11.

In this blog we will examine the implications of exchange regimes for our analysis.

Comments and responses on the Modern Money Primer Part 10.

We will go through the details of keeping track of stocks and flows in the money of account. That will also lead us into a discussion of the relation between “money” and “spending”—how do we “pay for” things?

Comments and responses on the Modern Money Primer Part 9.

The best kind of payment is an obligatory one—one that must be made to stay out of prison, or to avoid death by thirst. An obligatory payment that must be made in the sovereign’s own currency will guarantee a demand for that currency.

Comments and responses on the Modern Money Primer Part 8.

In short, to avoid the penalties imposed for non-payment of taxes (that could include prison), the taxpayer needs to get hold of the government’s currency.