su fficient ▁to ▁achieve ▁and ▁sust ain ▁full ▁employ ment ." ▁ ▁Post ▁Ke yn esian ▁econom ists , ▁such ▁as ▁L . ▁Rand all ▁W ray , ▁have ▁argued ▁repeatedly ▁on ▁the ▁" fo ol ish ness " ▁of ▁ ▁not ions ▁such ▁as ▁promoted ▁by ▁the ▁NE ED ▁Act , ▁pointing ▁out ▁that ▁if ▁money ▁does ▁not ▁represent ▁deb t , ▁in ▁the ▁form ▁of ▁a ▁tax ▁credit , ▁then ▁it ▁is ▁useless . ▁ ▁Econom ist ▁and ▁invest or ▁Warren ▁Mos ler ▁has ▁pointed ▁out ▁that ▁the ▁NE ED ▁Act ▁is ▁an ▁" inn oc ent ▁fra ud ," ▁because ▁it ▁undert akes ▁to ▁end ▁a ▁system ▁that ▁has ▁ ▁ceased ▁to ▁exist ▁a ▁long ▁time ▁ago . ▁ ▁Out come ▁The ▁bill ▁has ▁not ▁yet ▁been ▁introduced ▁to ▁the ▁floor . ▁There ▁were ▁no ▁other ▁co - sp ons ors ▁and ▁there ▁was ▁no ▁companion ▁legisl ation ▁in ▁the ▁Senate . ▁ ▁See ▁also ▁Green back s ▁Gold ▁standard ▁Stephen ▁Zar l eng a ▁ ▁Notes ▁ ▁References ▁ ▁External ▁links ▁" Function al ▁fin ance ▁and ▁modern ▁mon et ary ▁theory " ▁by ▁Bill ▁Mitchell , ▁ 1 ▁November ▁ 2 0 0 9 ▁ ▁Further ▁reading ▁Fried man , ▁Mil ton ▁( 1 9 4 8 ) ▁" A ▁Mon et ary ▁and ▁F is cal ▁Framework ▁for ▁Econom ic ▁St ability ," ▁American ▁Econom ic ▁Review , ▁ 3 8 ( 3 ), ▁pp .   2 4 5 – 2 6 4 ▁ ▁Category :