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Chartalism

In: Sovereign Money

Author

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  • Joseph Huber

    (Martin-Luther-University)

Abstract

This chapter addresses the legal and institutional foundations of the monetary system. The topic of state theory versus market theory of money is revisited. Particular emphasis is placed on the historical controversy between the Currency School which stood for re-implementing state control over the stock of money, and the Banking School which was in favour of unregulated private bankmoney. Today, we have a state-backed private bankmoney regime that has captured the sovereign monetary prerogatives of money creation and seigniorage.

Suggested Citation

  • Joseph Huber, 2017. "Chartalism," Springer Books, in: Sovereign Money, chapter 3, pages 35-56, Springer.
  • Handle: RePEc:spr:sprchp:978-3-319-42174-2_3
    DOI: 10.1007/978-3-319-42174-2_3
    as

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