MMP Blog #10 Responses
Comments and responses on the Modern Money Primer Part 10.
Day: December 20, 2023
MMP Blog #10: Keeping Track of Stocks and Flows: The Money of Account
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?
MMP Blog #9: What If the Population Refuses to Accept the Domestic Currency?
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.
MMP Blog #8: Taxes Drive Money
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.
MMP Blog #7: What Backs Up Currency and Why Would Anyone Accept It?
This week, let us take a peek behind the currency. Is there anything there, other than the Fed Chairman’s—how shall we put it—family jewels?
