Money in the Bank

8/13/2014

This article from Jacobin Magazine discusses the role and significance of banks in the modern capitalist economy. It argues that banks, far from being neutral intermediaries, play a crucial role in the creation and allocation of money within the financial system. The article examines how banks create money through the process of lending and highlights the power dynamics inherent in this process. It also explores the impact of bank lending practices on economic inequality and discusses alternative models of banking that prioritize public interest over profit. Overall, the article provides a critical analysis of the role of banks in shaping the economy and calls for a more democratic and accountable financial system.

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