transition to an effectively and efficiently functioning global economy smoothly in the face of national interest and asymmetry, especially controlling externality and achieving sustainability. Otherwise the road to globalization will lead to conflict. Underlying all this an operational approach to money, banking and finance that is capable of meeting the capital/income requirements of a global economy in order to balance supply and demand through a harmonious relationship of productive investment and income. Presently, global finance seems to be part of the problem instead of part of the solution. Robert, all state money, whether convertible or nonconvertible, is backed by taxes (coercion). Everyone has to pay their taxes in the state's money, exchanging the state's liability for one's liability to the state. It appears that there is a major flaw concerning your concept of utilizing the Government as Employer of Last Resort: Illegal Immigrants. Under such a construct as ELP Foreigners would swamp the US in ever greater numbers without a strict regime for controlling illegal immigration and parsing non-Citizens from the Government support programs. The employment environment cannot be controlled or supported by regimes such as ELP without tight immigration controls. Full employment would never be achievable without restricting access to the US labor market to US Citizens. Foreign citizens (political refugees excepted) aren't eligible for public assistance until they've been a legal resident at least 5 years. If the government can determine (google E-Verify) if a food stamp applicant is here legally, it can determine if an ELR applicant