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A long overdue post about the latest book on banking and finance

November 7, 2011

Thomas Attwood – unlike most people today – was well aware that: “The creation of new money and the allocation of purchasing power are vital economic functions and highly profitable. This is therefore a matter of significant public interest . . . Greater clarity and transparency about this could improve both the democratic legitimacy of the banking system and our economic prospects.”

So said the nef co-authors of a book launched at a University of Southampton conference on 29th September in Winchester. Described as filling “a gap in the fields of economics, money, banking, finance and credit”, it draws on over 500 original documents from the Bank of England and other banking authorities. 

It was written by Professor Richard Werner, Chair in International Banking, Southampton University, Andrew Jackson of Positive Money, Josh Ryan-Collins and Tony Greenham of the New Economics Foundation. 

Professor Charles Goodhart, formerly a member of the Bank of England’s Monetary Policy Committee and emeritus professor [banking and finance] at the London School of Economics, wrote the foreword and says: “this is the most comprehensive and authoritative guide to how money is created ever published, and reveals that most of the textbooks are very much out of date”. 

The cover, contents and foreword of “Where does Money come from?” can be downloaded from nef’s website.  

To buy it, go to

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