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"A national government is well placed to ensure acceptance of its own money. […]
"The key to ensuring acceptance of a national currency is in the state’s power to tax. By specifying that taxes and other obligations to the state must be settled in government money, the government creates a need for individuals and businesses to obtain the currency."
Peter Cooper (2015): https://heteconomist.com/money-interpreted-as-an-iou/
#money #reserves #centralBanks #banks #currency #MMT #power #wealth #settlement #transactionsv #taxes
"The key to ensuring acceptance of a national currency is in the state’s power to tax. By specifying that taxes and other obligations to the state must be settled in government money, the government creates a need for individuals and businesses to obtain the currency."
Peter Cooper (2015): https://heteconomist.com/money-interpreted-as-an-iou/
#money #reserves #centralBanks #banks #currency #MMT #power #wealth #settlement #transactionsv #taxes