The future of money
7 May 2010
The financial crisis has shattered the neoliberal illusion that a globalised banking and monetary system can operate independently of traditional state support and regulation. But the reforms that have so far been proposed, as bankers rush to return to the pre-crisis bonus culture, do not go nearly far enough, argues Mary Mellor. If the people have to prop up the system when it fails, why should they not also have control over the supply of money in the first place?