The sustenance of economic systems often relies on delicately balancing two perilous extremities. When looking at inequality, for instance, one finds that the lack of it will lead to an economy’s atrophy, while its excess may lead to unsustainable tensions. Since the end of the most recent financial crisis, developed countries have been inclined towards the latter scenario.
Over the last 12 months there has been a significant increase in international interest in sovereign money (the idea of transferring the power to create money from banks to the state, working in the public interest). For example:
Two weeks ago, thanks to Positive Money supporters sharing the petition, and hitting the streets together to gather signatures, we delivered our biggest ever petition to the government. Over 10,500 of us called on Chancellor Philip Hammond to stop pumping new money into financial markets, propping up the rich, and instead spend new money on projects that would benefit everyone in society.