DEFICIT HYSTERIA REDUX? Why We Should Stop Worrying about U.S. Government Deficits

Yeva Nersisyan and L. Randall Wray

If a government issues a currency that is not backed by any metal or pegged to another currency, then it cannot be constrained in its ability to "finance" spending.- DEFICIT HYSTERIA REDUX? Why We Should Stop Worrying about U.S. Government Deficits

http://mrzine.monthlyreview.org/