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-wide employment creation, and income and consumption in developing countries; advocates shift in resource allocation from public …
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, etc.; finds that reduction of investment and consumption and wage cuts will not improve efficiency. References …
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Our proposal draws on the premise that the availability of stable demand deposits for bank lending, in the process of which inside money is created, does not require any act of intentional saving. The mechanism allowing banks to lend deposits does not function well in low-income countries, owing...
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