On Money

Geoff Crocker ()
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Geoff Crocker: Basic Income Forum

A chapter in Rethinking Income and Money, 2025, pp 43-69 from Springer

Abstract: Abstract This chapter investigates the nature of money and its creation, challenging traditional views that treat money as debt. Money is a social construct, created without pre-existing debt. I critique the current reliance on interest rates and debt to manage the economy. I also argue that Quantitative Easing (QE) has been dysfunctional. To reform monetary policy, I propose direct money financing of government expenditure as a more effective and sustainable alternative, highlighting its potential to reduce public debt and avoid austerity, while maintaining economic stability without inflation.

Keywords: Money creation; Debt; Quantitative Easing (QE); Direct money financing; Interest rate; Public debt; Austerity; Monetary policy reform; Inflation (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-77782-0_3

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DOI: 10.1007/978-3-031-77782-0_3

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