this post was submitted on 13 Jun 2024
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Great. Except there's disagreement over how money works even among academics. And what understanding you subscribe to has real political implications. For example different understanding of money is used to drive pro austerity vs anti austerity policies.
In addition, the way money works in practical, personal terms, is not how it works in government terms and this understanding is often used to promote austerity policies that are harmful for most individuals.
Wow, really appreciate these points. I was mostly thinking about teaching people how to budget, not https://en.wikipedia.org/wiki/Capital_in_the_Twenty-First_Century.