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Providing a unique perspective on economic history and policy, this book shows how a daring method once recommended by top economists could be adapted to help America pay for the things it needs.
• Explains in vivid terms the way money has evolved in modern times, clarifying the rise and global triumph of "fractional reserve banking"
• Shows how a compromise between our existing method of money creation and the "Greenback" method could pay for hundreds of billions of dollars of national necessities without higher taxes, more deficit spending, or inflation
• Documents what money consists of, how it enters into circulation, and how the nature of money has changed over the centuries
• Reveals how significant numbers of economists, businessmen, and political leaders have advocated for the direct creation of money by government through the years
• Takes the lay reader through the history of previous attempts at direct money creation in a fascinating tour of American economic history