Tuesday 19 May 2009
Bank lending at interest isn’t the only way to create money. Critics of our present money-debt system have long called for a system of nondebt government issuance. A government institution would create needed money the same way that private banks now do, with an accounting entry. Instead of lending it into existence, however, government would spend it into existence to meet a public need, preferably a public investment in infrastructure, education, or technology development. David Korten ☀
