Source: Center for a Stateless Society
by Kevin Carson
“Part I of this two-part paper will examine a number of loosely related and considerably overlapping conceptual issues concerning the nature of money and credit: metallism vs. chartalism, money theories of credit vs. credit theories of money, and advance vs. synchronization economics. They all hinge, in one way or another, on the question of whether money and credit are ‘real’ material entities, on the one hand, that must be in some way ‘saved’ or ‘accumulated’ before they can be ‘lent’ or ‘invested,’ or simply units of account for allocating resources and tracking the balance of exchange of material goods, on the other. That is, is money a store of value — a commodity with intrinsic value in its own right — and does credit require a stock of past savings to be lent against?” (04/17/26)