The idea of financial inclusion has gained traction in recent years, but the approach fails to account for how ethnic minorities face greater risk of … Beyond Financial Inclusion, We Need Racial Economic JusticeRead more
PM
Posted inEconomics / Finance / PM / ToMl
Bank Robbery
Oxfam’s new report revealed today that the 22 richest men in the world have more wealth than all the women in Africa. Just how did … Bank RobberyRead more
Posted inFinance / PM / ToMl
New Bank of England research adds to the case against loanable funds
Understanding banks hasn’t always caused such difficulty for economists. In the first half of the twentieth century, theorists like Joseph Schumpeter outlined the role of … New Bank of England research adds to the case against loanable fundsRead more
Posted inFinance / PM / ToMl
Modern Monetary Theory and Positive Money, Part I: Intellectual roots and focus
To anyone interested in macroeconomics and the role of government, the name ‘Modern Monetary Theory’ (MMT) should by now be familiar. This school of thought, … Modern Monetary Theory and Positive Money, Part I: Intellectual roots and focusRead more
Posted inFinance / PM / ToMl
Modern Monetary Theory and Positive Money, Part II: Money and Debt (1)
In 1943, Abba Lerner published ‘Functional Finance and the Federal Debt’. He declared the article was a statement of the ‘new fiscal theory’ initiated by … Modern Monetary Theory and Positive Money, Part II: Money and Debt (1)Read more
Posted inBank / Economics / Finance / PM
85% of MPs don’t know where money comes from
Only 15% of MPs were aware that new money is created when banks make loans, and existing money is destroyed when members of the public … 85% of MPs don’t know where money comes fromRead more
Posted inBank / Economics / Finance / PM
Socialism for the rich (Drawbacks of our current money system)
Private money creation: from crisis to crisis There are many reasons to change the current money system. To begin with, the current system works less … Socialism for the rich (Drawbacks of our current money system)Read more
Posted inBank / Economics / PM
What Exactly is Full Reserve Banking?
The definition of full reserve banking can be a source of much confusion and consternation. The confusion revolves around the definition of “reserve ratio”. Normally, … What Exactly is Full Reserve Banking?Read more