A major work of financial theory and practice with immediate relevance
to the rebuilding of the economy, and restoring the promise of
equality
When the government decides to spend money, it simply creates the
necessary funds for itself--as if out of thin air. That's how we pay for
interstate highways, post offices, wars, social services, and economic
stimulus packages. If it's that easy to make money . . . can't we all
get more of it? Absolutely. And we should.
So argue financial regulation expert Robert Hockett and bestselling
philosopher Aaron James in this eye-opening, irreverent, and inspiring
exploration of what the dollar really is. And better still, they show
how we can build an economy that works for everybody without unwanted
taxes and added regulations.
In the process, we learn how disingenuous the political rhetoric
surrounding inflation can be, how the demonized concept of the deficit
is really just another way of tallying our collective national wealth,
and how a strong central bank could free us from the abuses of private
banking.
With broad historical background and ambitious yet practical
institutional proposals, Hockett and James offer a new vision of public
finance--people's banking for a people's economy. Armed with this new
outlook, we can even stop worrying debt and learn to love a strong,
accountable, and transparent Federal Reserve as a cornerstone of our
democracy.
