#warrenmosler

MODERN MONETARY THEORY, Basic Principles – Bill Mitchell.

Any economic system, short of slavery, requires productive resources to be transferred, through free will, taxation, from the non-government sector to the government sector in order to do the work of the latter.

The state, generally through its designated agent, the central bank, is the sole supplier of that which it demands for payment of taxes, it’s fiat currency. The taxpayers do not have the…