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ISBN-10: 0979268907

ISBN-13: 9780979268908

Edition: N/A

Authors:

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Description:

Money is the lifeblood of the economy. The technology of money how money is created and how it flows in the economy determines the fate of societies. About three centuries ago, a new money technology was begun in Great Britain, which led to the Industrial Revolution: It was the invention of fractional reserve banking. That simple innovation gave rise to the unprecedented expansion of money and credit and to the exponential economic growth to which the world owes its present prosperity. Economists, the experts who are supposed to tell us about these momentous changes in the economy, and explain their causes and effects, are mired in doctrinaire fog since Ricardo and Mill (and for some Marx)…    
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