Sunday, March 10, 2013

Money Wisdom #103

"Capitalist credit-money connects the state with the bourgeois classes. The institutional structure of this form of money consists in three-way debtor-creditor relations between the state, rentiers and taxpayers, which are mediated and reproduced by a public bank, an efficient bureaucratic administration and a robust Parliament."

Geoffrey Ingham The Nature of Money (2004) p.131

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