Renowned economist Richard Werner says popular textbooks miscast banks as mere middlemen and ignore their central "power to create money," an omission he claims distorts debates over credit just as ...

Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation The key function of banks in the real world is endogenously creating (inside) money. But they do so facing solvency, ...

Fiat money is a currency issued by a government that is backed by the authority and power of that government and its economy rather than a physical commodity. Historically, governments would mint ...

While seeking blessings from Lakshmi this Diwali, don’t forget to invite Saraswati, too. These five money principles can help you do just that.

The federal debt will soar in the coming decades. The previous truth can be found in the monolithic nature of the proposed debt solutions. Harvard’s Greg Mankiw is hardly alone in saying posssible ...