Suchergebnisse

As the recent financial crisis has revealed, the state is central to the stability of the money system, while the chaotic privately-owned banks reap the benefits without shouldering the risks. This book argues that money is a public resource that has been hijacked by capitalism. Mary Mellor explores the history of money and modern banking, showing how finance capital has captured bank-created money to enhance speculative "leveraged" profits as well as destroying collective approaches to economic life. Meanwhile, most individuals, and the public economy, have been mired in debt. To correct this obvious injustice, Mellor proposes a public and democratic future for money. Ways are put forward for structuring the money and banking system to provision societies on an equitable, ecologically sustainable "sufficiency" basis. This fascinating study of money should be read by all economics students looking for an original analysis of the economy during the current crisis.

As the recent financial crisis has revealed, the state is central to the stability of the money system, while the chaotic privately-owned banks reap the benefits without shouldering the risks. This book argues that money is a public resource that has been hijacked by capitalism. Mary Mellor explores the history of money and modern banking, showing how finance capital has captured bank-created money to enhance speculative 'leveraged' profits as well as destroying collective approaches to economic life. Meanwhile, most individuals, and the public economy, have been mired in debt. To correct this obvious injustice, Mellor proposes a public and democratic future for money. Ways are put forward for structuring the money and banking system to provision societies on an equitable, ecologically sustainable 'sufficiency' basis. This fascinating study of money should be read by all economics students looking for an original analysis of the economy during the current crisis.

Readers of Capitalism Nature Socialism will resonate with Scott Cato's analysis, which calls for green economics as opposed to 'capital accumulation and the resultant growth imperative; the reduction of values to prices; and the anti-social, anti-environmental effects of powerful corporations.' Scott Cato's response is that the market should be one institution among others: 'When adequately constrained by environmentally oriented taxes and regulations, such as global basic health and safety standards and resource taxes, markets would be allowed to function as distribution mechanisms.'.