Turkey: Final Version?

Here is the final draft (I believe) of my lecture.  First of all, I want to thank all of you who made suggestions and corrections.  I very much appreciate that sort of help.

Further suggestions, of course, are welcome.


1 comment so far

  1. John Gelles on

    I want to discuss with Michael Perelman the idea of unused capacity relating to creating fiat money (greenbacks) which suggests that “the empty purse is fullest — because the value of such money depends of the unused capacity of the sovereign creator whose production will be purchased for the money”. Thus, when the new Oakland Bay bridge was planned to be paid for from taxes in boom times is said to be too costly in bad times, the paradox for “empty is full” tells us if you pay for the bridge with fiat money (advanced by the sovereign federal government) there will be more money to pay for it than in boom times.

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