We talk a lot about the ‘money system’. In what sense does money form a ‘system’? Does it have a function or purpose? Does it have interconnections? Does it have identifiable elements? 1. Elements of a money system The elements of a money system include the structures and institutions that create it – governments, […]

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A constant in the history of money is that every remedy is reliably a source of new abuse. John Kenneth Galbraith, Money: whence it came, where it went For as long as money has existed in its two most popular forms – either as debt-based accounting systems or as notes and coins – it has […]

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