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41830 – The Fiat System: Debates & Critiques

41830 — The Fiat System: Debates & Critiques

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Overview

The Fiat System: Debates & Critiques surveys the major open debates surrounding the modern fiat money system — sovereign debt, income inequality, the US dollar’s reserve-currency status, Modern Monetary Theory, and the ethics of centralised monetary control. This is part three of the four-part Understanding Money series.

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In This Sub-Series

The Debt Dilemma

The historical record on debt-driven growth, and where it goes wrong.

Income Inequality & FIAT

Whether the modern monetary system itself widens the wealth gap.

The Dollar’s Dominance

The US dollar’s reserve-currency role, and the pressures on its future.

Modern Monetary Theory (MMT)

MMT’s case for sovereign currency issuers, and its critics’ response.

The Ethics of FIAT

The philosophical debate over who controls money, and on what authority.

Part of the Understanding Money editorial essay series.