Abstract
These are indeed perilous times. The worst can happen. In this chapter, we shall observe (i) where does money go in a Stock Market Crash, (ii) the state of unpreparedness of the economics profession and how to be ready for the next crash by (iii) “defusing the bomb” and (iv) “mending the Fed.” We shall also examine (v) the rationale for our proposals, and (vi) expected effects of these proposals. The chapter is divided into three parts: Sect. 1 deals with the current state of affairs; Sect. 2 deals with what can the private sector do; Sect. 3 deals with what can a Central Bank do.
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Notes
- 1.
This, of course, is a much disputed subject. There are two fundamental theories, the commodity theory and the credit theory; neither is acceptable. Nor has a satisfactory combination of the two been found yet.
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Gorga, C. (2024). Where-To Money. In: Concordian Economics, Vol. 2. Springer Studies in Alternative Economics. Springer, Cham. https://doi.org/10.1007/978-3-031-54642-6_7
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DOI: https://doi.org/10.1007/978-3-031-54642-6_7
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