FIAT MONEY AND ECONOMIC GLOBALIZATION
By James Constant
Copyright © 2011 by James Constant
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Because developed states cannot balance their budgets against the natural forces of economic globalization, central banks are left printing more money to keep states alive. In effect, the role of fiat money is the creative downsizing or destruction of developed states and the transfer of power and wealth to the newly emerging undeveloped states.
Economics is a social science that analyzes the production, distribution and consumption of goods and services. It is about a human activity which, like all living matter, requires energy to survive, live and reproduce. As to humans, energy manifests as goods and services produced and consumed. While goods and services are demands by humans, the production, distribution and consumption of goods and services are supplies by humans. There is a correlation, therefore, between economics and observed human activity. Lets look into this correlation further.