Introduction

Simon Mouatt and Carl Adams

Chapter 1 in Corporate and Social Transformation of Money and Banking, 2011, pp 1-21 from Palgrave Macmillan

Abstract: Abstract This book explores the transformation of money and banking, since the industrial revolution, and its implication for the global economy and society. The changes taking place affect us all in areas as diverse as healthcare, employment, education as well as the Dollar, Yen, Pound or Euro in our pockets. Whilst money remains a claim on real resources, in recent decades it has evolved from its simple means of exchange function to appearing as a commodity in its own right, as an underlying asset in the increasingly abstract securitization revolution. Indeed, we are at a very exciting time for money. The conflux of innovation within the wider banking and financial sector, for instance, is resulting in unprecedented levels of ‘virtual’ wealth, alongside the real economy development of new capabilities and activities based on more sophisticated cybersystems. In addition, the traditional banking sector appears increasingly ‘divorced’ from the real economy and, equally, the real economy has evolved in to something new and is not always particularly well served by the traditional banking sector processes and mindset.

Keywords: Productive Sector; Real Economy; Social Innovation; Economic Cycle; Information Revolution (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-29897-2_1

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DOI: 10.1057/9780230298972_1

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