29 Sep '11, 11am

Do you know where the money you spend actually comes from? You might be surprised

Do you know where the money you spend actually comes from? You might be surprised

we read literally hundreds of documents published by the Bank of England and other academic sources and consulted with experts from the Bank, academia and former bankers themselves. The book reviews theoretical and historical debates on the nature of money and explains how we arrived today with a system controlled by banks. It includes in-depth explanations of the role of the central bank, regulators, the government and the European Union in influencing the creation and allocation of money. Controversial topics are covered in depth, including the emergence of bond issuance, fractional reserve banking, the ‘money multiplier’ theory, fiscal policy and crowding out and quantitative easing. This is a quote on the back of the book from another leading monetary economist,

Full article: http://www.neweconomics.org/blog/2011/09/29/why-an-unders...

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