Original upload date: Mon, 23 Nov 2009 00:00:00 GMT
Archive date: Sun, 07 Nov 2021 20:03:02 GMT
This is Question 8 in a series of Modern monetary theory interviews - Professors Bill Mitchell and Randy Wray. See billy blog (http://bilbo.economicoutlook.net/blog/) for more information on this appr
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oach to macroeconomics. You can also get more information from Centre of Full Employment and Equity (http://e1.newcastle.edu.au/coffee").
Questions asked:
Youve explained why there is taxation, even though Governments dont rely on taxation or require taxation in order to be able to spend currency, why is it that they issue (sell) bonds. Why are they borrowing money from the broader community? Is it in order to finance their operations, or some other reason?
