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works, when modern monetary theory makes sense, why the Eurosystem has a potentially fatal design flaw, why the fiscal … theory of the price level is a fallacy and how to escape from the zero lower bound. …
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Governments through the ages have appropriated real resources through the monopoly of the "coinage". In modern fiat money economies, the monopoly of the issue of legal tender is generally assigned to an agency of the state, the Central Bank, which may have varying degrees of operational and...
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