The people of Scotland are in a unique position – the independence debate has presented us the opportunity to re-imagine our nation afresh. We can ask: what would the country look like if we designed it from scratch today?
As sovereign-money reform has been gaining more attention, more economists from various schools of thought have felt called upon to comment on it. Apparently not all commentators are taking the time to get to know what it is all about, with the result that the circulated information often contains a number of typical misrepresentations, reads the new paper by Prof Joseph Huber entitled "Sovereign Money in Critical Context".
The power to create money, in the hands of commercial banks, has been highlighted as one of the root causes of both the Great Depression of the 1930s and the financial crisis of 2007-2009. Lord (Adair) Turner, the former chairman of the UK’s Financial Services Authority, has argued that: “The financial crisis of 2007/08 occurred because we failed to constrain the private financial system’s creation of private credit and money” (2012).
On Wednesday 25th of June, Ben Dyson was joined by Professor Tim Jackson, Ann Pettifor and Dr Anastasia Nesvetailova in the Houses of Parliament for a debate entitled Making Money Work for People and Planet.