Klimakrise, Pandemie, Ungleichheit, politischer Rechtsruck IBU grosse gesellschaftliche Herausforderungen, die es zu lösen gilt. Leider scheitern Reformen zumeist an der Frage: ?wie sollen wir das bezahlen?". Weit verbreitete Irrtümer zur Funktionsweise des Geldsystems und ökonomischen...

This paper investigates how the concept of public purpose is used in Modern Monetary Theory (MMT). As a common denominator among political scientists, the idea of public purpose is that economic actions should aim at benefiting the majority of the society. However, the concept is to be...

Introduction; Theoretical foundations; Substance and purposes of economic activity; Money and credit; Debts and balance sheets; The creation of bank deposits; The creation of central bank deposits; The instruments of a central bank (monetary policy); The creation of sovereign securities (fiscal...

In this paper, the focus lies on the way the German government spends, how it spends and what the connection between finance ministry and central bank is. The institutions involved in the process are identified and discussed. As a member of the Eurozone, Germany's national central bank is not...

The economic crisis in the euro zone proves that neither the creators of the euro nor today's policy-makers fully understand the functioning of a currency union. Explanations of the macroeconomic relations inside a currency union are therefore in demand. It is now clear that macroeconomic...

Der Wirtschaftskreislauf -- Die Geldschöpfung der Banken und der Zentralbank(en) -- Die Geldschöpfung des Staates -- Die Geldpolitik des Eurosystems -- Der Konjunkturzyklus -- Wirtschaftspolitik -- Beschäftigung und Arbeitsbeziehungen -- Inflation und Deflation.