As the recent financial crisis has revealed, the state is central to the stability of the money system, while the chaotic privately-owned banks reap the benefits without shouldering the risks. This book argues that money is a public resource that has been hijacked by capitalism. Mary Mellor...

"Debt or Democracy explodes the myths behind modern money. It challenges the neoliberal obsession with public debt and deficit, arguing that a much more serious problem is the privatised creation of money through bank debt that leads to boom and bust. Far from being a burden on the taxpayer,...