Examining Modern Money Creation: An Institution-Centered Explanation and Visualization of the "Credit Theory" of Money and Some Reflections on Its Significance

Autor/in	Hook, Andrew
Titel	Examining Modern Money Creation: An Institution-Centered Explanation and Visualization of the "Credit Theory" of Money and Some Reflections on Its Significance
Quelle	In: Journal of Economic Education, 53 (2022) 3, S.210-231 (22 Seiten)Infoseite zur Zeitschrift PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0022-0485
DOI	10.1080/00220485.2022.2075510
Schlagwörter	Monetary Systems; Economics Education; Visual Aids; Theories; Macroeconomics + Suchen Sie Ihr Suchwort? Monetary system; Währungssystem; Wirtschaftskunde; Anschauungsmaterial; Theory; Theorie; Makroökonomie
Abstract	Despite recent clarifications by central banks that it is indeed "commercial banks" that are the main creators of the money supply, money creation processes remain as confusing and opaque as ever to many. This article develops a simplified macro-visual diagram of today's money system based on the increasingly accepted "credit theory" of money creation. It aims to explain not only how money is created and which institutions have the authority to create it; it also aims to discuss the implications of this understanding of money creation for wider issues, such as political sovereignty, inequality, and socio-economic development. Ultimately, it aims to provide a pedagogical resource upon which both technical and normative discussions about our current money system among academics, activists, and students can be based. (As Provided).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2024/1/01