The production of money

The production of money: A plea against the power of banks (original title: The Production of Money: How to Break the Power of Bankers ) is a book by the British economist Ann Pettifor from 2017. The German edition appeared in 2018.

content

The book consists of three parts. The first part describes the existing system of money creation and its susceptibility to crises. The problem with the existing system is "firstly the possibility of creating, pricing and granting loans without effective control and regulation and secondly the possibility of 'managing' the global flow of money across borders - without regulatory authorities taking care of it." In the second part, the ineffectiveness of existing reform approaches is discussed. The author, for example, criticizes the demands of the sovereign money movement to transfer the right to create credit from the banks to the central bank: In my opinion, transferring power to a small body of people at the head of a central bank would be a step up the way to an autocracy ”. In the third part, new proposed solutions are presented. She refers to the teachings of John Maynard Keynes ' in calling for an end to austerity, “for example for meaningful, safe work; for the energy transition away from fossil fuels; for the challenges of very young, but also aging societies ”. A key demand of Pettifors is the curtailment of the rights of the financial sector with the aim of "restoring a just monetary system that no longer lets the financial sector be in control of the economy, but instead relegates it to the role of servant".

Honors

Pettifor was awarded the 2018 Hannah Arendt Prize for the book .

Text output

• English Original Edition (2017): The Production of Money: How to Break the Power of Bankers. Verso, ISBN 978-1-78663-134-3
• English paperback (2018): The Production of Money: How to Break the Power of Bankers. Verso, ISBN 978-1-78663-135-0
• German edition (2018): The production of money: A plea against the power of banks. Hamburger Edition, ISBN 978-3-86854-318-6

literature

• Gemma Tetlow: 'The Production of Money', by Ann Pettifor - a financial education. In: ft.com . April 3, 2017, accessed on January 13, 2019 (English, review). 

• Katja Scherer: Ann Pettifor: "The Production of Money". In: deutschlandfunk.de . June 4, 2018, Retrieved January 13, 2019 (review). 

• Ulrich Busch: Ann Pettifor: The production of money. A plea against the power of the banks . Review. In: Berliner Debatte Initial . No. 3/2018 , p. 144–146 ( welttrends.de ).