Some critics of the reform argue that it creates a ‘massive concentration of power’ with the government, which will lead to corruption. The Logic of The Argument The logic behind this argument is the following: if you allow the government to create a lot of money and spend it into the economy, there is the [...]
Read "Objection: “It Will Lead To Corruption”" > > >Objection: “It Will Lead To Corruption”
September 13th, 2009Objections: “The Reform Would Be Inflationary”
September 12th, 2009The risk of inflation is one of the most common knee-jerk responses to the suggestion that government should take responsibility for issuing the nation’s money supply. In reality, the risks of inflation would actually be less under the reformed system than they are today. The Logic of the Objection The logic of this argument is [...]
Read "Objections: “The Reform Would Be Inflationary”" > > >The Objections…
September 12th, 2009There are a number of common objections to the kind of reform proposed on this site. Most of these objections fall into the following categories: Misunderstandings & misconceptions Knee-jerk reactions Poor logic Over the next few articles I will be addressing each of these concerns one by one, and explaining why they are invalid. Some [...]
Read "The Objections…" > > >Don’t Believe That Banks Create Money? Ask Obama…
August 18th, 2009The fact that commercial banks – and not the government – create the vast majority of money in society, can be pretty hard to believe at first. You probably have a suspicion that I (and the other few hundred writers on this subject) have made a mistake – misread something, or misunderstood economics, or got [...]
Read "Don’t Believe That Banks Create Money? Ask Obama…" > > >