The theory that modern money originated via sovereigns' direction of economic activity. States created demand for the currency they issue primarily by levying taxes payable only in that currency.

Lincoln's Greenbacks

Constitutional Moments and Monetary Reform
Watch live streaming video from clsit at
Oct 17, 2013

This seminar will explore the political, economic, and legal innovations leading up to, during, and following the Lincoln Administration and the Civil War.


Governments Are Not Households

Implications of Monetary Sovereignty & Stock-Flow Consistent Accounting
Sep 25, 2012

This seminar will examine the legal and institutional structure of the current global monetary system, with a particular emphasis on the economic freedoms afforded to nations such as the U.S., U.K., Japan, Canada and Australia that use a non-convertible fiat currency with a floating exchange rate.


The Historical Evolution of Money and Debt

Sep 11, 2012

This seminar will explore the social structures that have historically underpinned debt and money systems, and apply insights gleamed from them to our contemporary economic problems.

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