for (primarily) economists: Paradigm Shift
22 min readMar 25, 2021
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an institutional construct, not a theoretical model: making currency a fully exogenous variable changes all societal outcomes
[Thoroughly revised and updated on February 9, 2023.]
Synopsis
The basic idea herein is to create money (as currency) as needed — without involving debt or taxes — to fund a (sufficient) guaranteed minimum income…