What's the core idea behind Positive Money? Why is it a problem that commercial banks create money? What would a positive money system look like?
Yesterday, the United Nations held a high-level conference on how to finance the Sustainable Development Goals (SDGs). We have therefore come up with some rough ideas on how central banks could help partially fund some of these goals.
Summary Ann Pettifor’s new book, The Production of Money, is an excellent contribution to the growing body of thought exposing mainstream, neoclassical economics’ poor understanding of money, banking, and finance, and how its thinking has led to a financial system that we serve, rather than one that serves us.
Spurred by Milton Friedman, the concept of “helicopter money” – under which central banks would distribute money to citizens – is making headway in economic debate, but is often confused with the idea of basic income. This article intends to clarify the distinctions and overlaps between these two concepts.
With this week’s budget, the Chancellor doubled down on a failed economic model. The government will continue cutting spending into the next parliament, and earlier this week, it was revealed that the Treasury has asked most departments to find an extra 6% of savings.