
Is Sweden Socialist? | IEA Podcast
IEA Podcast
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The Origins of Credit Notes
Sweden was very late in developing banking. But the first Swedish bank changed everything. And then it's it started becoming adopted by other parts of Europe. Credit notes, that's just the basis of modern finance, have credit as part of it. It's not just a deposit money in the bank and you can take it out, but you have credit in the system.
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