Josh Ryan-Collins (Guest Author)

Should credit be guided? (IIPP)

3 January, 2019
This blog was originally posted on the UCL Institute for Innovation and Public Purpose blog, hosted on Medium. In academic and policy circles there is deep mistrust of public sector involvement in credit allocation, much more than in the credit allocation decisions made by commercial banks. This mistrust continues, despite the financial crisis of 2007–08 [...]

Exposed: The banks’ £23bn hidden subsidy

31 January, 2017
Who controls the creation of new money? Many people might answer ‘the state’ or the ‘central bank’. But the hard currency printed by the Bank of England only amounts to 3% of the money in circulation in Britain today. The rest? It’s created and allocated by commercial banks in the form of digital money – [...]

Can public money creation work? Some answers from Canadian history

10 November, 2015
  The theoretical and policy arguments for monetary reform are becoming more accepted by economists and establishment figures. The financial crisis blew apart the idea that deregulated private money creation by commercial banks leads to more efficient outcomes and allocation of capital, as has been noted by Martin Wolf of the Financial Times and Lord [...]