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- DescriptionAs the recent financial crisis has revealed, the state is central to the stability of the money system, while the chaotic privately-owned banks reap the benefits without shouldering the risks. This book argues that money is a public resource that has been hijacked by capitalism. Mary Mellor explores the history of money and modern banking, showing how finance capital has captured bank-created money to enhance speculative 'leveraged' profits as well as destroying collective approaches to ecomic life. Meanwhile, most individuals, and the public ecomy, have been mired in debt. To correct this obvious injustice, Mellor proposes a public and democratic future for money. Ways are put forward for structuring the money and banking system to provision societies on an equitable, ecologically sustainable 'sufficiency' basis. This fascinating study of money should be read by all ecomics students looking for an original analysis of the ecomy during the current crisis.
- Author BiographyMary Mellor is Emeritus Professor at Northumbria University, where she was founding Chair of the University's Sustainable Cities Research Institute. She has published extensively on alternative economics integrating socialist, feminist and green perspectives. Her books include The Future of Money: From Financial Crisis to Public Resource (Pluto, 2010).
- Author(s)Mary Mellor
- PublisherPluto Press
- Date of Publication20/05/2010
- SubjectEconomics: Textbooks & Study Guides
- Place of PublicationLondon
- Country of PublicationUnited Kingdom
- ImprintPluto Press
- Weight249 g
- Width135 mm
- Height215 mm
- Spine15 mm
- Format DetailsTrade paperback (UK)
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