The Nature of Money in Modern Economy – Implications and Consequences, by: Stephen Zarlenga and Robert Poteat --

Philip Molyneux ()

Journal of King Abdulaziz University: Islamic Economics, 2016, vol. 29, issue 2, 111-114

Abstract: This insightful paper calls for a re-design of the monetary system to aid both economic development and social justice. The main proposal is to shift the Federal Reserve Bank into the Treasury – this seems a sensible and not too controversial action (to me as a non-American) at least. Probably, the shift to abolish fractional reserve banking is the most controversial – although it has been promoted by many others in the past but never came to fruition. This, the authors argue, will lead to improved economic and social justice and less inequality. --

Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:abd:kauiea:v:29:y:2016:i:2:no:9:p:111-114

DOI: 10.4197/Islec.29-2.9

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