The Divide: Global Inequality from Conquest to Free Markets

by Jason Hickel

The fact that our economy runs on debt-based currency is one big reason that it needs constant growth. Restricting the fractional reserve banking system would go a long way to diminishing the amount of debt sloshing around in our economies, and therefore to diminishing the pressure for growth. One easy way to do this would be to require banks to keep a bigger fraction of reserves behind the loans they make.