The Creators of Inside Money

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Focusing on the role of commercial banks, the book delves into their influence on the creation of inside money and their pivotal involvement in the 2007-8 monetary crisis and the subsequent Great Recession. It critiques the traditional neo-classical analysis, which views money through a barter lens, arguing instead that money has evolved into a fiat medium of exchange shaped by legal frameworks. This perspective challenges the notion that monetary authorities solely control money, presenting it as a complex construct deeply intertwined with economic realities.