@DanielaGabor Of course in a monetary economy credit system creates purchasing power. The issue, in a war economy, is whether it can be translated into anything other than inflation. What you cant do is make more consumer goods. That constraint is enforced by SS e.g. 1943 Posen speeches.
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow
May 18, 2023
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow the money,…