Where Does Money Come From? reveals how, contrary to public perception, the bulk of today's money supply is created and allocated by commercial banks in their role as providers of credit. The authors argue that this system is inherently unstable, with little effective regulation of how much credit is provided, or whether it is used for productive or speculative purposes. Based on detailed research and consultation with experts, including from the Bank of England, Where Does Money Come From? reviews theoretical and historical debates on the nature of money and banking and explains the role of the central bank, the Government and the European Union. This second edition includes new sections on Libor and quantitative easing in the UK and the sovereign debt crisis in Europe.
This essential collection of Michael McClure's poetry contains the most original, radical, and visionary work of a major poet who has been garnering acclaim and generating controversy for more than fifty years. Ranging from A Fist Full, published in 1957, through Swirls in Asphalt, a new poem sequence, Of Indigo and Saffron is…
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