The foundational facts about economic life that should be the starting point for a process of learning how to create an economy that provides enough for everyone. A summary of the entire blog.
Tag: money
A summary of a brilliant new paper from the IIPP on the need for credit guidance policies, confirming one of the conclusions of the blog 2 weeks ago.
How Central Banks are providing a tiny amount of the needed global coordination of the financial system through “currency swap lines”.
A detailed look at what QE is, how it worked, and how it has inflated share prices without helping the economy.
This is the first anniversary of the blog, and as it happens I’ve just finished 3 months of posts on one subject and am about…
A summary of this section of the blog.
A logical proof that the explanation in textbooks of why the saving-investment holds must be wrong, so that you can fully understand the implications of this identity, explored in the rest of this section.
Last week I introduced the idea of a hierarchy of money. Each level is a claim on the level above: Securities are a promise to…
Over the last few weeks I’ve outlined how our current monetary system works, what problems this causes, and briefly outlined some of the ideas currently…
We’ve seen in the last few weeks that money is created when banks make loans, so increasing the money supply in line with productivity is…