Publications
Modernising Money
Why Our Monetary System is Broken, and How We Fix It
The book explains, in more detail than ever before, exactly how the monetary system can be fixed. The product of three years of research and development, these proposals offer one of the few hopes of escaping from our current dysfunctional monetary system. It is detailed but accessible to non-economists.
Where Does Money Come From?
What is money? How is it created? How does it enter into circulation? These are simple and vital questions it might seem, but the answers remain contested and often muddled. This book, published by the New Economics Foundation, provides a comprehensive overview of how the system actually works in non-technical language, and has already replaced the usual banking textbooks in some UK universities.
The Positive Money System (In Plain English)
A shorter, plain English explanation of how we can fix our money system, written for people with no background in economists or banking. It explains how we can prevent commercial banks from being able to create money, and move this power to create money into the hands of a transparent and accountable body, who would create money in line with the needs of the economy and grant it to government to be spent into the economy.
The Positive Money System (Technical)
A more technical presentation of our reforms, for economists and those with some background in money and banking. This document presents a plan for monetary reform, based on a proposal initially put forward by Frederick Soddy in the 1920s, and then subsequently by Irving Fisher and Henry Simons in the aftermath of the Great Depression. Variations of these ideas have since been proposed by Milton Friedman (1960), James Tobin (1987), John Kay (2009) and Laurence Kotlikoff (2010). While inspired by Irving Fisher’s original work and variants on it, the proposals in this paper have some significant differences. The starting point was the work of Joseph Huber and James Robertson in their book Creating New Money (2000), which updated and modified Fisher’s proposals to take account of the fact that money, the payments system and banking in general is now electronic, rather than paper-based.
Banking vs Democracy
This report asks if power has shifted from Westminster down the river to the City of London. What we find is a banking system that has more ‘spending power’ than the democratically elected government, no accountability to the people, and massive concentration of power in the hands of a few individuals.
Fixing Our Broken Economy
This pamphlet is a short overview of the problem with the current monetary system, written in plain English for anyone who is interested (with no background in economics or finance needed).
Draft Legislation
This unofficial draft bill shows how our proposals could be implemented in law in the UK parliament.