Ethical Markets fully supports Positive Money . Congratulations on this breakthrough into mainstream media – Hazel Henderson, Editor
Another major breakthrough in the monetary reform debate!
Fantastic news: The debate on money reform goes mainstream! Last week has the leading UK economics commentator, the Financial Times’ Martin Wolf, argued that “the power to create money should be stripped from private banks”. His article has sparked a major debate in the mainstream media and among economists, including Paul Krugman – one of the most influential economists today, in the New York Times. There has been a significant backlash from critiques and many misunderstandings (see below). But it is fantastic that this issue is finally getting attention and is being debated!
1) Financial Times’ Martin Wolf endorses Positive Money’s proposals for reform
“Printing counterfeit banknotes is illegal, but creating private money is not. The interdependence between the state and the businesses that can do this is the source of much of the instability of our economies. It could – and should – be terminated.”
The article includes a concise summary of our proposals and a reference to our book Modernizing Money.
2) Paul Krugman – New York Times
Paul Krugman, American economist, ranked among the most influential economic thinkers in the world today, has written a commentary on Martin Wolf’s article:
Ann Pettifor, Director of Policy Research in Macroeconomics (PRIME), Honorary Research Fellow at the Political Economy Research Centre at City University (CITYPERC) and a fellow of the New Economics Foundation, London:
Joe Weisenthal, executive editor at Business Insider has written an article with a somewhat misleading title, but addressing the “gross misconception about what a bank does that people tend to have”:
