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I think the point is not that the economy is based on debt, but the monetary system, namely fractional reserve banking, is based on debt. Of course the monetary
by morsch 14y ago
I think the point is not that the economy is based on debt, but the monetary system, namely fractional reserve banking, is based on debt. Of course the monetary system is the basic infrastructure of our economy, so it's not exactly wrong to expand the argument.
Money as Debt is an entertaining 45 minute video on the topic. It's considered to be somewhat partisan, though, and I'm not that it's entertaining for everybody.
http://vimeo.com/2244372 http://vimeo.com/2244372
http://en.wikipedia.org/wiki/Money_as_Debt http://en.wikipedia.org/wiki/Money_as_Debt