Dear all, I am new to this site and currently reading the book as part of teaching a pre university course at my school. This is part of our attempt to helps students who would have done their A levels, continue with their studies. I am also a senior examiner with one of the A Level boards. In setting up the per university course with my students I have been doing a lot of research on Dr Richard Werner’s work in relation to Banking and credit creation. I was inspired to learn more about the growth model in south East Asia and of course then read his book “Princes of the Yen”. What interests me is the argument that Dr Werner’s makes about the misuse of deductive reasoning through axioms and incorrect assumptions that lies behind much of the mathematical approach that has come to dominate Economic thinking in the post war period. On reading Doughnut Economics I was struck by the links in methodological thinking between the two. In other work Werner researches and proves that commercial banks create credit and that well over 90% of money is created by Banks. I was again intrigued by the possibility that this could be used to create a growth model that would allow the commons to function more fully if it were backed by regulations which forced the banks to lend for productive reasons. this could be adapted to the spirit of Doughnut Economics through lending to cooperative green energy and technology projects without the cost to the tax payer of the grandiose old school fiscal boost that most of the advanced economy governments seem to be promoting as a means of recovering post covid-19. Has the time come to admit the truth about the banking system by the regulators and thus pursue an alternative sustainable recover programme that lies within the doughnut?
@neilp Just short, because very busy various projects, a.o. monetary reform. First, it’s essential to distinguish the private and the public part of the money creation. Nowadays, the private commercial banks are creating allmost all the money. It’s essential to create safe, fair, democratic public money systems. #publicmoney4publicgoods. It’s in Kate’s book. I can recommend a.o. the work of Positive Money UK, Positive Money EU, Ons Geld in NL etc. Also Public Banking in the VS is interesting.
Thanks for this Conny, I will have a look at the resources you suggest.