The Maanga

There is a distinction between mathematics and economics. And it has taken two years and someone else to realize that. Ravikiran explained banking as is. Which made me, and I assume many others, mildly confused. As a  purely mathematical problem conventional banking/ creation of money made no sense. Where mathematics failed though, he used terms like demand and credit. One had no choice when people who made many times the money one did said those things sitting in the middle of those very bridges gaps.

Turns out, there is a name for that gap . And a story too. Bernard Lietaer calls it the 11th Round Parable.

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