Political Science Commons^™

Crises And The Myth Of The Money Supply, James H. Nolt

Class, Race and Corporate Power

Money, credit and capital are three fundamental economic terms that every high school student, at least, should understand. Yet we live in a society that does not treasure clarity about itself. Power prefers obscurity. So not only do few high school students understand these concepts, but few PhDs in economics do either. If you learn anything from this article, at least I hope you will understand these three. If you already know, or think you do, what money, credit and capital are (readers of this journal should know these), perhaps nonetheless you will be somewhat surprised by the simplicity, clarity …