Unavailable
Unavailable
Unavailable
Ebook177 pages2 hours
Keystroke Capitalism: How Banks Create Money for the Few
By Aaron Sahr
Rating: 0 out of 5 stars
()
Currently unavailable
Currently unavailable
About this ebook
Why society needs to reclaim the power to create money
At the heart of capitalism lies the ability of private banks to create money at the stroke of a key. Why have we ignored this unique privilege for so long – and at what cost? Aaron Sahr attributes the lack of attention paid to money creation to the core of popular theories of capitalism, which equate economic power with capital ownership. This conceptual framework obscures the real drivers of capitalist dynamics as well as the causes of increasing inequality.
By exploring the transformation of banking over the last half century, Sahr shows how the creation of money has driven the rise of finance as well as splitting incomes from wealth. As a result, the real economy of ordinary people has become a debt supplier to a monetary system whose returns accumulate at the top. It is not simply the markets but money itself that transfers wealth from the masses to a minority. Increasing financial inequality can therefore only be remedied by addressing predistribution – the modalities of money creation – as well as the distributive effects of the markets. By mapping this hidden regime of ‘keystroke capitalism’, Sahr makes an essential contribution to our understanding of economic inequality and capitalist dynamics.
At the heart of capitalism lies the ability of private banks to create money at the stroke of a key. Why have we ignored this unique privilege for so long – and at what cost? Aaron Sahr attributes the lack of attention paid to money creation to the core of popular theories of capitalism, which equate economic power with capital ownership. This conceptual framework obscures the real drivers of capitalist dynamics as well as the causes of increasing inequality.
By exploring the transformation of banking over the last half century, Sahr shows how the creation of money has driven the rise of finance as well as splitting incomes from wealth. As a result, the real economy of ordinary people has become a debt supplier to a monetary system whose returns accumulate at the top. It is not simply the markets but money itself that transfers wealth from the masses to a minority. Increasing financial inequality can therefore only be remedied by addressing predistribution – the modalities of money creation – as well as the distributive effects of the markets. By mapping this hidden regime of ‘keystroke capitalism’, Sahr makes an essential contribution to our understanding of economic inequality and capitalist dynamics.
Unavailable
Author
Aaron Sahr
Aaron Sahr is a philosopher turned economic sociologist. He is visiting professor at Leuphana University L�neburg, Germany, and head of the research group "Monetary Sovereignty" at the Hamburg Institute for Social Research. His research interests include the sociology of money, facts and fictions about monetary policy, the history of capitalism, inequality, and social ontology.
Related to Keystroke Capitalism
Related ebooks
Keystroke Capitalism: How Banks Create Money for the Few Rating: 0 out of 5 stars0 ratingsSummary of Capital in the Twenty-First Century: by Thomas Piketty | Includes Analysis Rating: 0 out of 5 stars0 ratingsSummary of Capital in the Twenty-First Century: by Thomas Piketty | Includes Analysis Rating: 0 out of 5 stars0 ratingsThe Politics of Debt: Essays and Interviews Rating: 0 out of 5 stars0 ratingsThe Political Origins of Inequality: Why a More Equal World Is Better for Us All Rating: 5 out of 5 stars5/5An Introduction to Economic Inequality Rating: 0 out of 5 stars0 ratingsDebtonator: How Debt Favours the Few and Equity Can Work For All of Us Rating: 4 out of 5 stars4/5Capitalism, the Swiss Model Rating: 0 out of 5 stars0 ratingsThe Return of the Public: Democracy, Power and the Case for Media Reform Rating: 0 out of 5 stars0 ratingsMoney: 5,000 Years of Debt and Power Rating: 0 out of 5 stars0 ratingsArchitects of Austerity: International Finance and the Politics of Growth Rating: 0 out of 5 stars0 ratingsInequality and the Global Economic Crisis Rating: 5 out of 5 stars5/5Wealth, Poverty, and Human Destiny Rating: 0 out of 5 stars0 ratingsDisaster Capitalism: Making a Killing Out of Catastrophe Rating: 4 out of 5 stars4/5Summary of Thomas Piketty's Time for Socialism Rating: 0 out of 5 stars0 ratingsThe Collectivistic Premise: Economics in a New Key Rating: 0 out of 5 stars0 ratingsThe Fair Society: The Science of Human Nature and the Pursuit of Social Justice Rating: 4 out of 5 stars4/5The Banking Swindle: Money Creation and the State Rating: 1 out of 5 stars1/5Summary of Peter Turchin & Sergey A. Nefedov's Secular Cycles Rating: 0 out of 5 stars0 ratingsAgeing Wealth An Unequal Problem Rating: 0 out of 5 stars0 ratingsBack on the Road to Serfdom: The Resurgence of Statism Rating: 0 out of 5 stars0 ratingsGlobal Fortune: The Stumble and Rise of World Capitalism Rating: 0 out of 5 stars0 ratingsBrave New World Economy: Global Finance Threatens Our Future Rating: 0 out of 5 stars0 ratingsSummary of Thomas Piketty's A Brief History of Equality Rating: 0 out of 5 stars0 ratingsThe Political Economy of Housing Financialization Rating: 0 out of 5 stars0 ratingsSummary of Tony Judt's Ill Fares the Land Rating: 0 out of 5 stars0 ratingsShare the Wealth: How to End Rentier Capitalism Rating: 0 out of 5 stars0 ratingsDebt or Democracy: Public Money for Sustainability and Social Justice Rating: 5 out of 5 stars5/5Democracy and Economic Power: Extending the ESOP Revolution through Binary Economics Rating: 0 out of 5 stars0 ratingsNoNonsense Globalization: Buying and Selling the World Rating: 0 out of 5 stars0 ratings
Politics For You
The Devil's Chessboard: Allen Dulles, the CIA, and the Rise of America's Secret Government Rating: 5 out of 5 stars5/5Nickel and Dimed: On (Not) Getting By in America Rating: 4 out of 5 stars4/5The Real Anthony Fauci: Bill Gates, Big Pharma, and the Global War on Democracy and Public Health Rating: 4 out of 5 stars4/5The Republic by Plato Rating: 4 out of 5 stars4/5Son of Hamas: A Gripping Account of Terror, Betrayal, Political Intrigue, and Unthinkable Choices Rating: 4 out of 5 stars4/5On Palestine Rating: 4 out of 5 stars4/5This Is How They Tell Me the World Ends: The Cyberweapons Arms Race Rating: 4 out of 5 stars4/5How to Hide an Empire: A History of the Greater United States Rating: 4 out of 5 stars4/5Fear: Trump in the White House Rating: 4 out of 5 stars4/5Gaza in Crisis: Reflections on the U.S.-Israeli War on the Palestinians Rating: 4 out of 5 stars4/5Daily Stoic: A Daily Journal On Meditation, Stoicism, Wisdom and Philosophy to Improve Your Life Rating: 5 out of 5 stars5/5The Madness of Crowds: Gender, Race and Identity Rating: 4 out of 5 stars4/5The Girl with Seven Names: A North Korean Defector’s Story Rating: 4 out of 5 stars4/5Disloyal: A Memoir: The True Story of the Former Personal Attorney to President Donald J. Trump Rating: 4 out of 5 stars4/5Capitalism and Freedom Rating: 4 out of 5 stars4/5Ever Wonder Why?: and Other Controversial Essays Rating: 5 out of 5 stars5/5The U.S. Constitution with The Declaration of Independence and The Articles of Confederation Rating: 5 out of 5 stars5/5The Cult of Trump: A Leading Cult Expert Explains How the President Uses Mind Control Rating: 3 out of 5 stars3/5Freedom Is a Constant Struggle: Ferguson, Palestine, and the Foundations of a Movement Rating: 4 out of 5 stars4/5The End of the Myth: From the Frontier to the Border Wall in the Mind of America Rating: 4 out of 5 stars4/5The Great Reset: And the War for the World Rating: 4 out of 5 stars4/5The Gulag Archipelago [Volume 1]: An Experiment in Literary Investigation Rating: 4 out of 5 stars4/5The Humanity Archive: Recovering the Soul of Black History from a Whitewashed American Myth Rating: 4 out of 5 stars4/5Hope in the Dark: Untold Histories, Wild Possibilities Rating: 4 out of 5 stars4/5Speechless: Controlling Words, Controlling Minds Rating: 4 out of 5 stars4/5Closing of the American Mind Rating: 4 out of 5 stars4/5
Reviews for Keystroke Capitalism
Rating: 0 out of 5 stars
0 ratings
0 ratings0 reviews