Should Banks Be Stripped Of Their Ability To Create Money? A Referendum in Switzerland


A three part series with economist Jo Michell commenting on initiatives to strip banks of their ability to create money as a Swiss National Referendum on a proposal to do so stirs international debate on this topic of relevance to all modern capitalist societies

Blaming Banks or Government for Not Enforcing Their Side of the Bargain? (Swiss Referendum 3/3)

June 6, 2018

There is no easy monetary fix for the problems of modern capitalist economies says Jo Michell who argues that deep problems in the economy cannot be solved by trying to control the money supply while nothing is stopping the government from ensuring money gets created for good purposes, including government services and infrastructure

What Do Private Banks Do For The Real Economy? (Swiss Referendum 2/3)

June 4, 2018

Jo Michell explains the argument in favor of stripping banks of their ability to create money is based on a fundamental misconception of how the monetary and financial system operate and the economy would be more vulnerable without bank-created money

Are the Swiss Going To Revoke The Privileges of Private Banking? (Swiss Referendum 1/3)

June 4, 2018

A proposal to strip banks of their ability to create money goes to vote in Switzerland, economist Jo Michell discusses the issues at stake and their relevance to all modern capitalist economies