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Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems, by L. Randall Wray

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The government’s IOU goes up and that is exactly equal to the credit to the retiree’s demand deposit.
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Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems
Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems
by L. Randall Wray
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