Crisis and the Role of Money in the Real and Financial EconomiesAn Innovative Approach to Monetary Stimulus
happen. If there is one common theme to the vast range of crises we consider in this book, it is that excessive debt accumulation, whether it be by the government, banks, corporations, or consumers, often poses greater systemic risks than it seems during a boom. Infusions of cash can make a government look like it is providing greater growth to its
... See moreCarmen M. Reinhart • This Time is Different: Eight Centuries of Financial Folly
As per the dominant regime of political economy, the artificial money is introduced to the financial sector by means of “open market operations” in which central banks purchase financial instruments on the market to add to their balance sheets in order either to boost the prices of these assets, lower the borrowing costs of corporations, or both at
... See moreSacha Meyers • Bitcoin Is Venice: Essays on the Past and Future of Capitalism
Eventually, as the negative consequences of the financial crisis played its way out, and say, all the banks disappeared, some kind of new approach (e.g. Google innovating an entirely new way of handling banking) or the emergence of an entirely different regime, would have come into place, and we would have moved forward effectively with no damage b... See more
Jordan Hall • Four Layer Model of Social Systems | Deep Code Experiment: Episode 1
points to imbalances between production and consumption in the major economies as the primary source of monetary instability.
Michael Pettis • The Great Rebalancing
the economist Milton Friedman once wrote: ‘Only a crisis – actual or perceived – produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around. That, I believe, is our basic function: to develop alternatives to existing policies, to keep them alive and available until the politically impossible
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