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Keystroke Capitalism
A01=Aaron Sahr
Accumulation
Age Group_Uncategorized
Age Group_Uncategorized
Author_Aaron Sahr
automatic-update
B06=Sharon Howe
Banking system
Banks
Capitalism
Category1=Non-Fiction
Category=JBCC9
Category=JFCX
Category=JHBA
Category=KCA
COP=United Kingdom
Debt
Delivery_Delivery within 10-20 working days
Distribution
Economic sociology
eq_business-finance-law
eq_isMigrated=2
eq_non-fiction
eq_society-politics
Finance
Financial system
Financialization
Inequality
Keystroke
Language_English
Modern Monetary Theory
Monetary creation
Monetary theory
Money
Money creation
PA=Available
Political economy
Power of money
Predistribution
Price_€10 to €20
PS=Active
Savings
softlaunch
Product details
- ISBN 9781839761195
- Weight: 140g
- Dimensions: 140 x 210mm
- Publication Date: 01 Mar 2022
- Publisher: Verso Books
- Publication City/Country: GB
- Product Form: Paperback
- Language: English
Delivery/Collection within 10-20 working days
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Contemporary capitalism produces more and more money, debt, and inequality. These three trends have a common cause: the privilege of private banks to create money by means of accounting - by the stroke of a key. Why was this privilege not addressed politically for so long - and who benefited from it? At the heart of the answer lies the realization that the power to create money has been hidden by the way we commonly think and talk about capitalism. The book traces the omission of money creation from theories of capitalism and maps its consequences. By expanding the manoeuvring space for the banks to use their privilege, the capitalist countries have financed a transformation of the economy known as financialization. As a result, the real economy and private households became a debt supplier to a monetary system whose returns accumulate at the top. It is not simply "the markets" but money itself that transfers economic benefits from the masses to a minority. Increasing inequality of income and wealth can therefore only be combated if one does not only correct distributive results of markets-redistribution-, but addresses predistribution: the modalities of money creation.
Aaron Sahr is a philosopher turned economic sociologist. He is visiting professor at Leuphana University Lüneburg, Germany, and head of the research group "Monetary Sovereignty" at the Hamburg Institute for Social Research. His research interests include the sociology of money, facts and fictions about monetary policy, the history of capitalism, inequality, and social ontology.
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