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Back to Basics Series: The Velocity of Money (with Ann Pettifor)

Pitchfork Economics with Nick Hanauer

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The Velocity of Money and Economic Inequality

This chapter explores the decline in the velocity of money and its implications for the economy, particularly in the context of rising inequality and the aftermath of the Great Recession. It challenges misconceptions about money creation, emphasizing the roles of private banks and individuals, while critiquing current economic practices focused on wealth accumulation. The discussion highlights the necessity for a reorientation towards supporting domestic economies and the impact of taxation on job creation and economic vitality.

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