Wednesday, 28 December 2016

POST Money and markets

As my colleague Neil McEvoy and I wrote in the DEMOS Quarterly way back in 1996

Endogenous money is money created within a market whereas exogenous money is money created by some outside authority and imposed on a market. We’re used to the second – where the outside authority is the government – and have forgotten about the first, but pressures on the monetary system may have reached the point where a change is inevitable.


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