Time 08.January 2026

Economics & Business

Credit-money.jpg

6min29
Modern financial capitalism is nothing less than a debt economy. And the main component of a debt economy, its “torque,” is credit money. Credit money is qualitatively different from its predecessor, “commodity money,” which had a very specific intrinsic value (labor expended), and a specific commodity (cattle, hides, wheat, etc.) served as the so-called “universal […]


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