The new concept of money – Globe

Capitalism is under attack. Our economic system is blamed for the growing imbalances in our economy. However, capitalism is not to at fault; our monetary system is. In 1971 the gold standard was abolished, and the world entered the FIAT currency era. Since then, there has been very limited control over the supply of money. […]

What is money?

As for now, there is no good definition of money. However, economists agree onthree functions that money needs to have in order to be recognized as money.Money needs to be:A medium of exchange – meaning it can be used to facilitate trade of goods betweenparties.A unit of account – meaning it can be used for […]

Why the money supply should be linked to economic growth

Capitalism is under attack. Our economic system is blamed for the escalating imbalances we witness in the world today. But capitalism is not at fault, the monetary system is. Capitalism lifted Western workers out of poverty, from the subsistence level to a state where most could afford to buy several times the food they needed. […]