In the wake of the 2008 financial crisis, central banks created
trillions of dollars of new money, and poured it into financial markets.
'Quantitative Easing' (QE) was supposed to prevent deflation and restore
economic growth.
But the money didn't go to ordinary people: it went to the rich, who
didn't need it. It went to big corporations and banks - the same banks
whose reckless lending caused the crash. This led to a decade of
stagnation, not recovery. QE failed.
In this book, Frances Coppola makes the case for a 'people's QE', in
which the money goes directly to ordinary people and small businesses.
She argues that it is the fairest and most effective way of restoring
crisis-hit economies and helping to solve the long-term challenges of
ageing populations, automation and climate change.