Google* how long to pressure cook white or brown rice and you’ll see widely differing answers. Like shots all over a dartboard. They can’t all be correct — it’s just rice.
I wonder if many of them care more about CPM rates and page visits than actual recipe accuracy.
*or Bing, DDG, Kagi, etc if you prefer although I haven’t tried.
18880 to 21200 this year is a 12.78% increase. Last year 2020, it said M2 grew 25%.
It’s notable that the calculation for M2 changed.
“Before May 2020, M2 consists of M1 plus (1) savings deposits (including money market deposit accounts); (2) small-denomination time deposits (time deposits in amounts of less than $100,000)”
“Beginning May 2020, M2 consists of M1 plus (1) small-denomination time deposits (time deposits in amounts of less than $100,000)”
Does that mean savings accounts and money market accounts are no longer included in M2?
Since two other commenters answered your question, I’d like to add to your 10 person society example.
What if a government taxed every one of their transactions by 25%, spent or redistributed 80% of those dollars within the society, and uncharitably donated 20% of all dollars away to another society. How long would it take for that society to have a rounded $0 and the other society to have a rounded $10?
M1 is the sum of currency held by the public (i.e., currency outside the Treasury, Federal Reserve Banks, and the vaults of depository institutions); traveler's checks of non-bank issuers; and transaction deposits at depository institutions.
The M1 Money Supply was $3.964 trillion in November 2019 (seasonally adjusted). Of that, $1.705 trillion was currency and the rest of the amount was deposits.
The M2 Money Supply includes M1 along with savings accounts, money market accounts, money market funds, and time deposits under $100,000. It does not include IRA or Keogh retirement accounts. $9.769 trillion was in savings accounts; $1.003 trillion was in money markets; $591 billion was time deposits; and the rest was M1.
M2 was $15.327 trillion in November 2019 (seasonally adjusted).
By the end of 2021, the federal government had $28.43 Trillion dollars in federal debt.
To answer your question: “How do we judge that governments are not providing services at good value?”
I’d say not spending almost 2x the money supply would be a sign of better value.
One start is to download the budgets and spending bills of your country and others and see if you can balance the budget. The exercise of balancing the budget makes a good project for macroeconomics classes. I had to do it for my final macroeconomics project.
I wonder if many of them care more about CPM rates and page visits than actual recipe accuracy.