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The limiting function for money creation is the amount of wealth available to absorb it (both stock and flow). Presently, that is secondary; the limiting funct
by pjkundert 7y ago
The limiting function for money creation is the amount of wealth available to absorb it (both stock and flow).
Presently, that is secondary; the limiting function is the ability of civilization to maintain the interest payments to those private institutions mandated to create the money supply.
One of these concepts is necessary; the other is not.
Creation of dynamic money supplies based on the one limiting function is possible, and there are emerging mechanisms becoming available to support such money at scale — and make it available to the other ~4 billion people entirely unserved by the present system.
Care to comment on why this conversation is a “polemic”, and such a future is unimaginable?