Money
Money is not a commodity, instead money is a social relationship of debt and credit. Money is a creature of state, a credit issued by the state. A special kind of a credit which can be redeemed by taxation. By…
Category Money Capital
Taxes For Revenue Are Obsolete
By Beardsley Ruml in 1946. Chairman of the Federal Reserve Bank of New York. Sovereign government does not need taxes for revenue, but to create a demand for its currency. With that in mind, we need to rethink tax policy.…
Blind Spot of Sri Lankan Economy (Private Sector Debt)
Private Debt Conundrum One of the key and largely overlooked reasons for expected decline in our economy is burden of private debt, which is the combination of business debt and household debt. Even though government debt grabs all the headlines,…
Financial Parasites Kills the Real Economy
This article is based on a true story, that the Sunday Times reported on 04/03/2018 under the heading of Northern Village women in claws of microfinance monster. The story is about northern villagers which have become victims of predatory lending…