The conventional account of fractional reserve banking describes how bankers originally accepted precious-metal coined money …
Economic Analysis, Theory
Steve Keen on Max Keiser Report
Another good Keiser report. Steve Keen talks about the money creation process in the second half, and how the assumption of 99.9% of …
How Debt Free Money Can Help the Unemployment Problem
There are some economists who believe that total demand in an economy must equal its total supply. The argument goes something like …
Let's Not Pussyfoot Around with the Banks
There is a simple fact about the UK banking system that is both profound and mundane. It is also little known, and yet the source of …
Birth and Death of Money
The lifecycle of …
The Story of the Community with No Money
Imagine you live in a community with no money and you make furniture for living. Every time you want to buy something you need to exchange …
How Fractional Reserve Banking Leads to Booms and Busts
The seeds of an asset bubble The seed of a boom is very often a clear and sustained rise in the price of some asset class (typically shares …
Debt Is Anti Competitive
Today we will look at how debt based funding is anti-competitive. First of all we will discuss large disincentives to competition then small …
It's Not a Credit Crunch; It's a Money Crunch
The phrase credit crunch is being used again by the media to describe the freeze in lending that can occur at the tipping point of economic …