The Loans Standard Model of a Credit
نویسندگان
چکیده
This paper presents the Loans Standard (LS) model as an example of a pure credit monetary system. The LS model clariies some en-dogenous credit money issues raised by Moore, Wray, Arestis, Good-hart and others in the Journal of Post Keynesian Economics. The LS model encapsulates the credit money characteristics which have been identiied in the present monetary system, but removes its extraneous non-credit money aspects. The result is a purely credit monetary system not very far removed from the present system, but with a number of advantages.
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