ABSTRACT
This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book argues that practitioners in economic policy and the financial sector need to go back to practical knowledge, based on common sense and experience gained from trial and error. It discusses the functions and the creation of money. The book reviews different perspectives on the nature of inflation. It explores closely associated with the question of whether the state should play a constructivist role in the economy or better show more restraint, because it throws spanners in the works of the economy. The book also discusses the alternatives to the system, which follow from the dissolution of the public-private partnership (PPP) of money production: the nationalization or the privatization of money production. It looks at assumptions needed for the theory of Modern Finance to work.
