An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Pages
▼
Pages
▼
Wednesday, December 11, 2013
Mary Mellor — Handbag Economics: The Ideology Of Austerity
Cleverly extended analogy about money and money creation.
Mary Mellor lives and works a few miles from me. I’ve met her a few times and have been to her talks and lectures. She is very much a feminist and on the political left, plus she’s a lively character with a good sense of humour.
Finally she demands a divorce. In separating the assets of the household she reclaims the insignia of the money as a public heritage. Banks may no longer create new money with that insignia. If they want to make loans they must either transfer savings of her existing money or create their own money and honour it themselves. Mary Mellor
Ha, ha! Told ya! It's called ethical money creation, don't you know by now?
Mary Mellor lives and works a few miles from me. I’ve met her a few times and have been to her talks and lectures. She is very much a feminist and on the political left, plus she’s a lively character with a good sense of humour.
ReplyDeleteFinally she demands a divorce. In separating the assets of the household she reclaims the insignia of the money as a public heritage. Banks may no longer create new money with that insignia. If they want to make loans they must either transfer savings of her existing money or create their own money and honour it themselves. Mary Mellor
ReplyDeleteHa, ha! Told ya! It's called ethical money creation, don't you know by now?
Thank you very much, Mary Mellor!
[I won't repeat here my comments there]