alanjjohnstone wrote:Banks
alanjjohnstone wrote:
Banks Are Not MysticalOf related interest, a debate between NYT Paul Krugman and Australian economist Steve Keen and others on money/credit supply. Is it the Fed or is it the banks
The answer to some extent depends on what measure of the money supply you are refering to.http://en.wikipedia.org/wiki/Money_supplySometimes people end up talking at cross purposes because they are referring to different things when they use the word ‘money’As far as I’ve got it worked out, the level of the broad money supply is determined by the amount of base money, the reserve rate and the state of the economic cycle.