Monday, May 29, 2017

Dirk Ehnts — “If I watch a football match”

Elementary institutional economics. Substitute unit of account for a central bank note and banks for the competing teams in a league in this analogy. Without understanding the rules of the game and the relationships of the teams and players, just tracking flows is meaningless.

econoblog 101
“If I watch a football match”
Dirk Ehnts | Lecturer at Bard College Berlin

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