Production of Money: How to Break the Power of Bankers

Ann Pettifor argues that money is a promise, not a commodity, and proposes linking it to improvements in the world.

Format: Paperback / softback
Length: 192 pages
Publication date: 03 April 2018
Publisher: Verso Books

According to renowned economist Ann Pettifor, one of the few individuals who foresaw the 2008 financial crisis, money is not merely a commodity, but a promise. This profound reevaluation of the power of money holds the potential to revolutionize our understanding of how the economy functions.

In her book, The Production of Money, Pettifor delves into various alternative discussions and innovations surrounding money, including green QE and helicopter money. She explores the possibility of connecting the money in our pockets or on our smartphones to the positive changes we aspire to witness in the world.

Pettifor argues that by treating money as a promise, we can shift our perspective and redefine the role of central banks and financial institutions. Instead of solely focusing on regulating money supply and interest rates, they can prioritize creating money that aligns with societal goals and environmental sustainability.

This transformative approach suggests that money can be used as a tool to promote social welfare, address inequality, and promote economic growth. By linking the money in our pockets to the improvements we desire, we can create a virtuous cycle where economic activity benefits both individuals and the broader society.

However, Pettifor acknowledges that implementing such a change requires a significant shift in mindset and policy. She calls for a more democratic and accountable financial system that puts the interests of people and the planet before the profits of corporations.

Overall, The Production of Money offers a thought-provoking exploration of the power of money and its potential to shape a more sustainable and equitable future. By challenging the conventional understanding of money, Pettifor provides a roadmap for a new monetary system that can drive positive change and promote a better quality of life for all.

Weight: 178g
Dimension: 179 x 198 x 17 (mm)
ISBN-13: 9781786631350