An interview with Warren Mosler which demonstrates that Russian media can be just as tasteless as the U.S. variety. But, if we want a more realistic perspective on what economies are, some of Mosler’s observations are worth while. I particularly like his example of how Ghana was monetized.
He calls it coercion, but it could be argued that coercion is necessary when people are ignorant of what’s actually good for them.
Is there a net benefit to using money? I’d say there is in that it enables trade and exchange to flow more smoothly and extend over a greater range in both time and space. Problems crop up when the issuers of the currency rely on it to coerce behavior people would otherwise not engage in.
Even worse is when the impulse to coerce then becomes an end in itself and people are forced to work just to survive, rather than to exploit their creative talents and avoid waste.