A Guide to Public Money Creation: Outlining the Alternatives to Quantitative Easing

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More and more people are joining Positive Money to critique the Bank of England’s current £445 billion Quantitative Easing (QE) programme and call for an alternative.

This has prompted newfound interest in unconventional monetary policy proposals, also known as ‘Helicopter Money’, ‘Overt Monetary Finance’ (OMF), ‘Strategic QE’, ‘Green QE’, ‘Green Infrastructure QE’, ‘People’s QE’ and ‘Sovereign Money Creation’ (SMC).

All of the alternative QE proposals advocate the proactive creation of central bank money to stimulate growth in the real economy. Therefore, Positive Money collectively refers to these proposals as ‘Public Money Creation’.

The emergence of Public Money Creation proposals shows that there are a number of different ways that the Bank of England can create money to boost economic growth.  Each proposals will have different implications for the economy.

Screenshot 2016-05-03 15.05.36It is exciting to see these proposals enter mainstream debate – but it can get confusing! To help you better understand QE and each Public Money Creation proposal we have released our new Guide to Public Money Creation.

Download Full Report Here (Free, PDF, 55 pages)

We are happy to see the subject of central bank money creation gaining traction. Whilst we advocate a specific proposal, Sovereign Money Creation, we welcome the wider debate. 

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Download Full Report Here (Free, PDF, 55 pages)



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Frank Van Lerven

Frank is our Research and Policy Analyst, and is responsible for our research on current events. Frank also leads our research in Public Money Creation and Quantitative Easing. Prior to working on the availability of credit under a Sovereign Money system, Frank also researched issues related to the 1844 Bank Charter Act and its implications for contemporary monetary policy. With a Research Master’s in Advanced Political Economy (cum laude) and a BA in African Development Studies, Frank is especially interested in how Western financial systems (and models) influence developing economies.

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