The future of money from financial crisis to public resource

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...

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Bibliographic Details
Main Author: Mellor, Mary
Format: eBook
Language:English
Published: London Pluto 2010, 2010
Subjects:
Online Access:
Collection: JSTOR Open Access Books - Collection details see MPG.ReNa
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245 0 0 |a The future of money  |h Elektronische Ressource  |b from financial crisis to public resource  |c Mary Mellor 
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505 0 |a Includes bibliographical references (pages 177-184) and index 
653 |a POLITICAL SCIENCE / Public Policy / Economic Policy 
653 |a Capitalism 
653 |a Money 
653 |a BUSINESS & ECONOMICS / Money & Monetary Policy 
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653 |a Monetary policy 
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520 |a 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