In today's world of paper money, money consists of currency created by the printing press and bank deposits created by the bookkeeping operations of bankers. What limits the ability of the printing presses and the pens of bankers to create money? The currency component of money is central bank...

The national accounts include the Fed's payments to the Treasury as a component of corporate taxes. These payments constituted 22% of reported corporate profits taxes in 1981. This paper discusses alternative concepts of inflationary finance. Measures for these concepts are reported for the...

The national accounts include the Fed's payments to the Treasury as a component of corporate taxes. These payments constituted 22% of reported corporate profits taxes in 1981. This paper discusses alternative concepts of inflationary finance. Measures for these concepts are reported for the...