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Sovereign Money

Beyond Reserve Banking

Authors: Huber, Joseph

  • Offers a detailed account of the inner workings of the modern monetary systemProvides new insights into the roots of the financial crisis and other flaws in our international monetary system, exposing weaknesses in monetary and regulatory policyBrings new solutions on how to fix our broken financial system

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eBook 15,46 €
price for Germany (gross)
  • ISBN 978-3-319-42174-2
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover 21,39 €
price for Germany (gross)
  • ISBN 978-3-319-42173-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

In coming to terms with the still smoldering financial crisis, little attention has been paid to the flaws within our monetary system and how these flaws lie at the root of the crisis.
This book provides an introduction and critical assessment of the current monetary system. It begins with an up to date account of the workings of today’s system of state-backed ‘bankmoney’, illustrating the various forms and issuers of money, and discussing money theory and fallacy past and present. It also looks at related economic challenges such as inflation and deflation, asset inflation and bubble building that lead to market instability and examines the ineffectual monetary policies and primary credit markets that are failing to reach some sort of self-limiting equilibrium.
In order to fix our financial system, we first need to understand its limitations and the flaws in current monetary and regulatory policy and then correct them. The concluding part of this book is dedicated to the latter, advocating a move towards the sovereign monetary prerogatives of issuing the entire stock of official money and benefitting from the gain thereof (seigniorage). The author argues that these functions should be made the sole responsibility of independent and impartial central banks with full control over the stock of money (not the uses of money) on the basis of a legal mandate that would be more detailed than is the case today. This includes a thorough separation of monetary and fiscal powers, and of both from banking and wider financing functions.
This book provides a welcome addition to the banking literature, guiding readers through the inner workings of our monetary and regulatory environments and proposing a new way forward that will better protect our economy from financial instability and crisis.

About the authors

Professor Joseph Huber is Chair of Economic Sociology Em. at Martin Luther University, Halle-Wittenberg, Germany. Previously he was Associate Professor at the Free University Berlin and has also held guest and interim professorships at Science Centre Berlin, University of Zurich and Technical University Vienna. Professor Huber is a pioneer of what is now known as ‘green ethical banking’ and is one of the founders of ecological modernisation theory. He has written extensively on monetary policy and reform topics, is a longstanding policy advisor on matters of economic and ecological modernisation and is actively involved in the international movement for monetary reform.

Table of contents (6 chapters)

Buy this book

eBook 15,46 €
price for Germany (gross)
  • ISBN 978-3-319-42174-2
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover 21,39 €
price for Germany (gross)
  • ISBN 978-3-319-42173-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Sovereign Money
Book Subtitle
Beyond Reserve Banking
Authors
Copyright
2017
Publisher
Palgrave Macmillan
Copyright Holder
The Editor(s) (if applicable) and The Author(s)
eBook ISBN
978-3-319-42174-2
DOI
10.1007/978-3-319-42174-2
Softcover ISBN
978-3-319-42173-5
Edition Number
1
Number of Pages
XI, 206
Topics