Can banks individually create money out of nothing? — The theories and the empirical evidence

Volume 36, December 2014, Pages 1–19

by Richard Werner

Can banks individually create money out of nothing? — The theories and the empirical evidence

…..This study establishes for the first time empirically that banks individually create money out of nothing. The money supply is created as ‘fairy dust’ produced by the banks individually, “out of thin air”…….

About Kristjan

Defitsiidi terrorismi vastase pataljoni eriüksuslane (finantsignorantsuse vastu võitlemise osakond). Treening: MMT, postkeinsism, Tartu Ülikool Majandusteadus
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