PoorNoMore — ஏழைகளே இல்லாத உலகம்

Understanding the Evolved Operational Role of Government Securities and Taxation Introduction Russia's periodic suspension of government bond issuance (OFZ auctions) in the recent past, cited as a measure to facilitate market stabilization, has reopened an important question about sovereign government finance—with implications far beyond Russia itself. Government bond issuance has long been understood as the means through which governments finance their budget deficits. But what if that understanding no longer reflects the operational realities of a non reserves-constrained monetary system? Has Russia genuinely reached a financial limit? Or has it been presented with a great opportunity to rethink the role of government bond issuance in a non reserves-constrained monetary system? If the latter is true, Russia's experience offers lessons that extend far beyond its own borders. It invites every sovereign government operating within a non reserves-constrained monetary syste...

A Question for You Before you condemn welfare for the poor, answer one question honestly. How much of your own prosperity is the product of your individual effort, and how much is the product of an economic, legal and social system that has consistently worked in your favour? Pause before answering. Did you build the roads you travel on? Did you generate the electricity that powers your home? Did you create the drainage systems, sanitation services and countless public utilities that quietly keep your town and city functioning? Did you build the schools that first taught you to read and write? Did you create the universities that educated you? Did you build the institutions that made your profession possible? Did you establish the courts that protect your life and property? Did you create the currency you use every day? Did you build the banking system that enables millions of transactions every day, channels savings into investment, extends credit and quietly keeps the eco...

The Greatest Paradox of Human Civilisation  Every day, billions of people go to work. Their work grows food, builds homes, generates electricity, manufactures innumerable goods, provides healthcare, educates children, develops technology and creates every good and service upon which modern civilisation depends. Today, humanity produces far more than is required to provide every human being with nutritious food, decent shelter, quality healthcare, education, clean water, energy, clothing, communication and every other essential for a dignified life. Yet billions of people continue to struggle even for life's most basic necessities. Around one trillion dollars' worth of food is lost or wasted every year, together with the land, water, energy and human effort used to produce it. China has demonstrated that public capital can build infrastructure and manufacturing capacity on a scale previously considered impossible. Artificial Intelligence now promises to multiply humanity's p...

Public Debt Cannot Be Understood Without First Understanding the Monetary Architecture Dr. Anoop Singh asks an important question in his recent article: What happens when public debt stops buying progress? It is an excellent question. But before answering it, we must answer another. What exactly is public debt? Surprisingly, this first question is almost always skipped. And that omission distorts nearly every subsequent debate on public debt. 1. Public Debt Cannot Be Defined Before Defining the Monetary Architecture Every monetary system has its own architecture. That architecture determines: how money is created, who creates it, what constrains its creation, and consequently, what government borrowing actually means. Public debt has no meaning independent of that architecture. Yet almost every discussion proceeds as though the meaning of public debt remained unchanged across fundamentally different monetary systems. It did not. 2.  Public Debt Means Different...