Creating a Sustainable Economic System
For the last 60 years western countries have been following the following mantra: the economy needs to grow. After WWII economic growth has been chosen as the number one goal, and GDP (Gross Domestic Product, the total sum of all income in a country) has been used to measure see how well a country is doing. The logic behind this choice was as follows: if people have more income then … [Read more...]
This may seem a strange question, but the answer may surprise you. Most people think that money is created by the Bank of England. After all isn’t that what it says on a ten pound note? And indeed coins and banknotes (commonly referred to as “cash”) are put into circulation by the Bank of England. But today only 3% of the money in circulation is … [Read more...]
One of the big problems with the current financial system is that new money is created by the Banks. In the UK an organization called Positive Money is campaigning for a banking reform where new money can only be created by the Bank of England. This is an excellent step in the right direction, and we fully support their proposal. The following (taken from the Positive Money website) explains … [Read more...]
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