Theoretical Grounds of Public Finance Reform

• Autorzy: Mieczysław Dobija
• Języki publikacji: EN

Abstrakty

EN

It is a fact that central banks generate money to be used by commercial banks, but it is not natural. This phenomenon has been strongly criticised in American Monetary Institute publications authorised by S. Zarlenga (2008). They note that public goods (creating money) serve as a source of income and authority for the private banking industry. Knowing that money is created as a result of work done, we may begin to think differently about the monetary economy in order to benefit from its particular features and capabilities. The economy should be considered a bulk of capital flows regulated not only by the market. Well established legal acts like that determining the minimum wage adjusts the flow of capital to employees towards one of a more equivalent size and more consistent with the value of labour. Recognising that labour is a process that creates money helps improve the theory of a money-based economy in many fields while releasing the development impulse for both individual economies and the world economy. These impulses can be released provided ground reforms for the central bank functions and budget construction and control are accomplished. (fragment of original text)

Słowa kluczowe

EN

Public finance reform; Workforce productivity; Economic models; Payment equilibrium; Supervision

PL

Reforma finansów publicznych; Produktywność siły roboczej; Modele ekonomiczne; Równowaga płatnicza; Nadzór

• Czasopismo: Argumenta Oeconomica Cracoviensia
• Rocznik: 2009
• Numer: no 5
• Strony: 7--25

Twórcy

autor

Mieczysław Dobija

• Cracow University of Economics, Poland

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