This paper argues that conditions are ripe for the re-invention of a core component of the banking system by having an autonomous institution to house the deposit accounts of individuals and companies. In addition, this institution would own and operate the payment and settlement systems. There...

Many books on the 2008 financial crisis and the current recession focus on the financial sector. Unlike them, this book takes the real economy as the starting point and it situates the downturn within the societal context over the last several decades. Important elements of the story include...