Re: Expanding the definition of chartalist money

["ÁÎ×Ó¹â Henry C.K.Liu ¹ù¤l¥ú" <hliu@xxxxxxxxxxxxxx>]

> paul davidson wrote:
>
> > I argue (in POST KEYNESIAN MACROECONOMIC THEORY - Chapter 6) the need for
> > money is generated not only by the government deciding in what form to
> > accept  PAYMENT OF TAXES  but also, in an entrepreneurial economy, in what
> > form the legal system (and therefore government) determines to accept the
> > SETTLEMENT OF CONTRACTUAL OBLIGATIONS. (After all paying taxes is basically
> > one type of contractual obligation.  The failure to pay taxes -- unless
> > fraud is involved -- legally only incurs civil penalties -- just like the
> > failure to meet any contractual obligation.
>
> >  As long as their is a civil law of
> > contracts and participants in the economic system are law- abiding, then
> > the government as the enforcer of contractual obligations (when necessary)
> > gets not only to, as Keynes wrote in the TM, write the dictionary (i. e,
> > define what is money) but the government also gets to enforce the dictionary!!
>

SCMP    Tuesday, September 19, 2000


                   A 52-year-old road accident victim whose sex life was undermined by
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damages settlement.