What did you feel when you understood the full implications of the fact that banks create money out of nothing?
Please let us know in the comments.
In the second half listen to an interview with Professor Jem Bendell of the University of Cumbria in the BCB Radio show on “Why don’t economists do comparative studies of different monetary systems and development outcomes, i.e. literacy, health, well being, environmental sustainability, inequality.”
The interview with Professor Bendell starts at 16m14s here.
“If we are going to make a significant progress on inequality, on house price crisis, on sustainability, on unemployment – there’s lots of other things to do, but if we don’t change the monetary system, we are going to have difficulty addressing any of those issues.”
Professor Jem Bendell