to hold money over time - and due to convertibility there is no means by which the Friedman rule can generate deflation … activity, so the optimal quantity of money is inherently stochastic. Efficiency in such an environment requires the capacity to … expand the money supply on an “as needed” basis. We show how a debt-based payments system that relies on banks to certify the …

to hold money over time - and due to convertibility there is no means by which the Friedman rule can generate deflation … activity, so the optimal quantity of money is inherently stochastic. Efficiency in such an environment requires the capacity to … expand the money supply on an "as needed" basis. We show how a debt-based payments system that relies on banks to certify the …

the law. Democratizing money will therefore ensure equal opportunity to the ownership of property, and thus full … capital via the creation of money. If the divergence between capital and labor-between rich and poor-is explained by the … monopoly access of capitalists to finance, then reducing this divergence is crucially dependent on the democratization of money …

Today all countries have fiat money issued by a central bank. There is no obligation by a central bank to exchange its … money for gold or any other good. Central banks have the monopoly to issue central bank money and have the power to create … their money out of nothing. Creating such a monetary system is functional for a capitalist economy and must be regarded as a …

This paper explores the rise of money and class society in ancient Greece, drawing historical and theoretical parallels … metallist theories of money. It will be shown that the origins and the evolution of money were closely intertwined with the rise … and consolidation of class society and inequality. Money, class society, and inequality came into being simultaneously, so …

threatened central banks money and their role in the monetary system. Meanwhile, central banks have been studying and launching … pilot projects on their own digital currency, Central Bank Digital Currency. If until recently almost all economists … challenges the boundaries of money. In light of El Salvador experience, we consider different points of view on the nature of …