An anthropological contribution to rethinking the relationship between money, debt, and economic growth

Bibliographic Data

ID2616414
AuthorsRichard H Robbins (SUNY Plattsburgh [email protected], corresponding author)
Year2018
Volume2018
Issue81
Pages99-120
Publication date2018-06-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueFocaal (JOURNAL)
Journal identifiersISSN: 0920-1297 • E-ISSN: 1558-5263
PublisherBerghahn Books (PUBLISHER • GB)
DOI10.3167/fcl.2018.810108
OpenAlexW2811324865
LanguageEN
Citations received4
References cited21

Interrelationships among money, debt, and economic growth create a financial system that provides a steady stream of income to banks and private investors- the proverbial 1 percent. However, because economists obscure these interrelationships, threats to the maintenance of the monetary streams of the elite are underreported. Consequently, increasing shares of national incomes must be appropriated to maintain those streams. This article reexamines the nature of and relationships among money, debt, and economic growth to understand austerity programs and why rates of economic growth must decline and how governments and elites adjust to this reality. It then suggests alternative ways of addressing the creation of money and the problems arising from the division of society into net debtors and net creditors

Austerity · Central bank · Creditor · Debt · Economics · Elite · Monetary economics · Monetary policy · Money creation · Political science · Economic Theory and Policy · Global Financial Crisis and Policies · Housing, Finance, and Neoliberalism · Finance

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Open DOISci-HubOpen Access