"Most of the progressive thinkers and writers I look to for insight deprecate rentiers (or so I believe). I am a rentier. How should I feel?" asks Graham Barnes.
In chapter 13 of his book Credo, Brian Davey points out that public health is an alternative indicator of well-being and is strongly correlated to levels of equality or inequality. Greater equality means greater well-being for everyone and a smaller need for the state – yet inequality has been increasing dramatically.
Banks create money out of nothing when they extend loans and then charge borrowers interest on this newly created capital. The result is an ongoing multi-billion pound/ dollar subsidy breaking the basic rules of capitalism. What is perhaps even more surprising is that there appears to be no explicit description of the 'bargain' underlying this important arrangement. By Graham Barnes.
This article by Graham Barnes looks at three of the most poisonous aspects of Mainstream Money from the perspective of a currency designer exploring new money-forms.