2 of 3 people found the following review helpful
Enlightening introduction to a topic shrouded in misunderstanding,
This review is from: Where Does Money Come From?: A Guide to the UK Monetary & Banking System (Hardcover)
This book is a carefully researched introduction to the powerful role that private banks play in creating, allocating and destroying money - a subject that is poorly understood by economists and policy-makers as well as members of the public.
It is vital reading for anyone who is interested in understanding the causes of excessive debt, asset price bubbles and financial instability.
We tend to think of the monetary system as natural or inevitable. In fact, this book shows that money is just a social convention. As Aristotle pointed out in 350BC, money has "come about by agreement, therefore it is within our power to change it or render it useless".
The first step is to understand the rules and institutions that govern the current system, and how they came about. This book is a great place to start.