FIAT, Versus Representative Money Under Debate (II). A Case Study of the U.S.’ Federal Reserve’s Monetary Base Along the Postwar Era

      Аннотация: This is continuing our previous approaches on money, as fiat, versus representative, but also looking either at a crisis that forces the future to be different than present and past, or at the former Fed’s governor’s (Alan Greenspan) reflections about the former gold standard that sounded at least strange at their time. We turn here, in this paper, to a more applied procedure, as much as essays always keep limited persuasion resources, but stay aware that this approach capability stays, in its turn, even less persuasive face to the mutually exclusive theories of fiat and representative money.

Ключевые слова: Money Multiplier, representative & fiat money, Fed (American Federal Reserves), money neutrality