Modern Money and the Rise and Fall of Capitalist Finance

Modern Money and the Rise and Fall of Capitalist Finance examines the true nature of modern money and seeks ideas for an alternative economic system for a just society. This book suggests that adopting the ideas and institutions of a trust allowed personal identities to be combined with creditor-debtor relations and, by doing so, led to the evolution of modern money. This also helps explain why modern banking arose in England rather than continental Europe, by conceptualizing modern money as a trust andinvestigating the inseparable relationship between personal identity and modern money, because it is more than creditor-debtor relations - it takes the form of a trust. It also helps explain how the capitalist credit-money economy differs from previous credit or money economies. This book marks a significant contribution to the literature on modern money, heterodox economics and the philosophy of economics and finance--