The Nature of Money in Modern Economy –Implications and Consequences

Abstract

This paper discusses the great importance of the monetary question, and briefly examines some of the dominant erroneous concepts of money and their effects upon societies. It also points and links to the great progress currently being made by researchers in this field, so readers can examine them more fully. It presents very brief summaries of what some of the important new papers do. It also aims at helping instructors in outlining a reading curriculum to assist in a long overdue understanding of money power. Finally, the paper presents a money and banking system proposal which has evolved since the Great Depression of the 1930s, and is now ready for implementation and has even been introduced as potential legislation into the United States Congress.