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Democratizing Finance: Restructuring Credit to Transform Society
Democratizing finance is the means by which we can democratize our economy
What if our financial system were organized to the benefit of the many rather than simply empowering the few? Robert Hockett and Fred Block argue that an entirely different financial system is both desirable and possible. They outline concrete steps that could get us there. Financial systems move the worlds savings from investment to investment, chasing the highest rates of return. They run on profit. But what if investment went to the enterprises or institutions that provided things that the majority of people would prioritize?
Democratizing Finance includes six responses that seek to amend, elaborate, and challenge the arguments developed by Hockett and Block. Some of the core arguments put forward by other contributors include calls for the rapid elimination of private financial entities, the dilemmas of the politics associated with financial reforms, and the fate of parallel proposals advanced in the US in the 1930s.
What if our financial system were organized to the benefit of the many rather than simply empowering the few? Robert Hockett and Fred Block argue that an entirely different financial system is both desirable and possible. They outline concrete steps that could get us there. Financial systems move the worlds savings from investment to investment, chasing the highest rates of return. They run on profit. But what if investment went to the enterprises or institutions that provided things that the majority of people would prioritize?
Democratizing Finance includes six responses that seek to amend, elaborate, and challenge the arguments developed by Hockett and Block. Some of the core arguments put forward by other contributors include calls for the rapid elimination of private financial entities, the dilemmas of the politics associated with financial reforms, and the fate of parallel proposals advanced in the US in the 1930s.
336 pages, Paperback
Published February 8, 2022
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Displaying 1 - 3 of 3 reviews
April 24, 2023
Good, somethings went over my head but great to see new polices being proposed in a area we are told we cannot touch.
February 6, 2025
A good collection of essays proposing alternative approaches towards the goal of democratizing finance. Mat Mellor was very good at explaining the MMT approach and relevance.
June 7, 2023
This book brilliantly balanced theory, critique and policy proposals in a way I have not come across before. Not only does it give you an understanding of the shortfalls of the common understandings of the origin and role of finance in our communities, but it also shows how this can be changed to meet pressing social needs.
For full review: https://mquzama.substack.com/p/fictio...
For full review: https://mquzama.substack.com/p/fictio...
Displaying 1 - 3 of 3 reviews