The MMT Podcast with Patricia Pino & Christian Reilly cover image

#126 Dirk Ehnts: How Banks Create Money

The MMT Podcast with Patricia Pino & Christian Reilly

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The Concept of Creative Destroyment in Dynamic Capitalism

Joseph schumpeter was an austrian economist born in the late nineteenth century. He became a famous economist in the early twentieth century. His idea of creative destruction in dynamic capitalism is similar to watminsky's. But he understood that banks would create money also, and this kind of credit creation means there will be more competition - not more dynamic economy.

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