MMP Blog #6 Responses
Comments and responses on the Modern Money Primer Part 6.
Beginning with this blog we will begin to develop our theory of sovereign currency.
This primer seeks to fill the gap between formal presentations in the academic journals and the informal blogs. It will begin with the basics to build to a reasonably sophisticated understanding.
Gold-standard thinking is inapplicable to a sovereign, currency-issuing government operating under flexible exchange rates.
Why does it seem like there isn’t enough money to pay for the things we really need? Is it really true? Are we really too poor to put America back to work making and building the things we need to maintain a prosperous nation?
This may sound like the plot for a Dickensian novel but, in fact, it is a precise description of what I think of as rethinking the reality of modern fiat money—a rethinking that enables collective society to achieve the full potential of its profit-making and not-profit making endeavors.