Henry George School of Social Science
Spring 2024
Explain the difference between a government which is a currency issuer and one which is a currency user.
What are the conditions which, per Kelton, a country must meet in order to be monetarily sovereign?
Explain Kelton's use of the nomenclature (TAB)S versus S(TAB).
What does it mean for a government to "provision itself"?
Explain how the imposition of a tax drives demand for the currency in which the tax is to be paid.
Kelton identifies 4 rationales for (federal) taxation. (32-34) Explain them in your own terms.
Kelton characterizes U.S. federal government borrowing as a choice rather than a necessity. Explain why.
Kelton criticizes the PAYGO rules which Congress imposes on itself. What are those rules and why does she take issue with them?