2min chapter

The "What is Money?" Show cover image

An Examination of Central Banking with Joseph Wang (WiM234)

The "What is Money?" Show

CHAPTER

Are Commercial Banks Lending Money Into Existence Effectively?

In many different historic or cultural contexts, we've used animals as money. So do you think it is necessary that we have commercial banks lending money into existence for a functional economy? Or is this just a system that we have adopted for some reasons? I think of the social institutions we have today as products of thousands of years of evolution. And so that suggests to me that this is an institution that provides a function that is helpful for society.

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