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Chapter 1: What is Mutual Credit?
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Social Enterprises providing value can receive investment without taking on debt or paying returns in cash. This paper shows how ‘use-credits’ manage risk at every stage.
docs.google.comCredit Theorists insisted that money is not a commodity but an accounting tool.
Anthropologists no longer accept that money originated to replace barter, as classical economists, including Smith, had maintained. There is no evidence for this barter-to-money myth. On the contrary, it seems likely that credit antedated money and that the earliest forms of credit bore interest.