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22min chapter
Ep 73: Paul Sheard Demystifies Money
Brave New World -- hosted by Vasant Dhar
Money Creation and the Role of Banks
This chapter explores the misconceptions about money creation and how it actually works through the loanable funds theory. It discusses the creation of money by banks through loans, highlighting the distinction between individual banks and the banking system. The chapter also delves into the centrality of reserves in the monetary system and the role of the central bank's balance sheet.
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Discover
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