Economics @ ITT

Why Canadians Are Cutting Their Money in Half

Posted in Uncategorized by ittecon on January 7, 2016

It was reported last week that Canadian citizens have been cutting their official government money in half and using it as a localized alternative currency. The currency is called “Demi,” which means “half” in french. The Demi currency is being used specifically in the Gaspesie region of northern Quebec and is actually accepted by a number of local businesses.

Source: The Surprising Reason Why Canadians Are Literally Cutting Their Money in Half

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Note To Joe Stiglitz: Banks Originate, Not Intermediate, And That’s Why Aggregate Demand Is Stuffed – Forbes

Posted in Uncategorized by ittecon on January 6, 2016

I like Joe Stiglitz, both professionally and personally. His Globalization and its Discontents was virtually the only work by a Nobel Laureate economist that I cited favourably in my Debunking Economics, because he had the courage to challenge the professional orthodoxy on the “Washington Consensus”. Far more than most in […]

Source: Note To Joe Stiglitz: Banks Originate, Not Intermediate, And That’s Why Aggregate Demand Is Stuffed – Forbes