| November 9 2020 | Modern Money Theory: Week 1 | Back Next |
"Just agree that some item, which should be relatively easy
to keep track of, counts as paying what's due or owed.
Once enough people adopt the convenient arrangement,
settling a wide range of debts and obligations in
their daily business, they've got money." (27)
Hence, money is a social relationship
... which people establish amongst one another for resolution of obligations
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