BoM September 2017

Our September book of the month is Ann Pettifor’s production of money. Money makes the world go round: but what is it really? And how is it produced? Above all, who controls its production, and in whose interests? Money is never a neutral medium of exchange. Nor are bankers simply go-betweens for savers and borrowers. In this accessible, brilliantly argued book, leading political economist Ann Pettifor explains in straightforward terms history’s most misunderstood invention: the money system. Pettifor argues that democracies can reclaim control over money production and subordinate the out-of-control finance sector to the interests of society, and also the ecosystem. She also examines and assesses popular alternative debates on, and innovations in, money: positive money, helicopter money and the rise of goldbugs. She sets out the possibility of linking the money in our pockets (or on our smartphones) to the change we want to see in the world around us.

Author: Sean Danaher

Emeritus Professor at Northumbria University, Newcastle upon Tyne and founding Member of Progressive Pulse

5 thoughts on “BoM September 2017”

  1. One of the best books I have read that answered most of my questions, and opened up some more. Not too long a read either. Recommended to me a couple of months ago by Richard Murphy.

  2. Ann Pettifor has a brilliant quote in an earlier book that completely sums up how it is NOT money that limits what is possible:

    “we can afford what we can do”

    Pettifor, A. (2014) Just Money: How Society Can Break the Despotic Power of Finance, London, Commonwealth.

  3. I took the liberty of donating this book and several of Prof. Murphy’s to my local community library in the hope that curiosity would raise its head and spread information to a few more people. Going on the theory that if the info is available it will find its way to educate and inform the curious.

    1. Thanks Christine
      have you any recommendations for book of the month for later in this year or early next year? Possibly a longer read for December as many will have more time over the Christmas holidays.

      1. The Politics of Financial Risk, Audit and Regulation published August This year deals with what is found in ‘A Case Study of HBOS’.
        This may give some idea of the sort of collusion that enabled the banking system to become such a hugh liability.
        The author is Atul K. Shah.
        I havent completed it yet but became interested in the regulation aspect as Credit Unions got very little real help from the same regulatory authorities and I was Treasurer for my Credit Union when the banks came tumbling down.
        Not sure if this fits your requirement.

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