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Re: Re.: 'Stability' Of Equilibrium w/Zero-Cost Money

Gunnar Tomasson wrote:

<snip>
>8. Now, money impacts real-world economic developments - once it is
>recognized that modern money is created with the stroke of a computer key,
>the proposition that "Walras's theory and all others along those lines -
>including Samuelson's - are little better than nonsense" does not hold water
>- THEY ARE NONSENSE!
<snip>

This would be accurate if modern money weren't always created with a
corresponding amount of debt.

Harry Veeder
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