Pure Money for a Sound Economy

Sandra Schmidt

No 580, Working Papers from University of Heidelberg, Department of Economics

Abstract: At present, the world-economy is exceedingly fragile. Debt levels of nations peak. Monetary assets increase, too, and concentrate in the hands of few. In this paper, I show that a mechanism at the root of today’s monetary system entails an inherently fragile economy. I simulate the consequences of this mechanism within a macroeconomic model. I motivate a new monetary system that gives money the role it should have: to facilitate complex interactions in a stable environment.

Keywords: Money; debt; banks and inequality. Reform of the monetary system; equity-based money. (search for similar items in EconPapers)
Date: 2015-01-28
New Economics Papers: this item is included in nep-mon
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