The financial crisis of 2008 revealed the limitations of our current neoliberal financial order. As banks and other financial institutions lost their grip on financial markets across the world, it was the world’s governments that stepped in and saved the system on the backs of their taxpayers.
If they have the capacity to create public money to save the banks, why don’t democratically elected governments use that same power to create money and involve people in order to solve problems of such as debt, poverty and the climate crisis?
Photo credit:
Carsten Ussat [
CC BY-SA 4.0]
State of Power 