The policy implications of the fact that banks create most of the new money in a modern economy Contents Introduction Should private banks arrogate the money creation role to themselves? What bank regulation should achieve Economic growth need not… Continue Reading
Alternatively titled: This changes everything! (How banks create money out of nothing) Contents Introduction Money and its importance Forms of money Establishing that the money supply must grow How the money supply grows But if banks create money… … Continue Reading
This website is not just about just economics. It is also about good governance. Surprisingly – and it is a happy surprise – it is to Nigeria we must go for a shining example of it. Continue Reading
The Ministry of Tourism and Wildlife states that Kenya has a carrying capacity of 7 – 7.5 million tourists. which suggests that we are operating at less than 30% of our potential. Continue Reading
Constructing the kind of ecosystem within which the substantial productivity increases arising from widespread, small-scale agriculture can be realised is an immense task. But it is a task worthy of all our efforts. Continue Reading
“If you wish for industrialisation, prepare to develop agriculture.” ~ Michael Lipton Continue Reading
In November 2022, the Business Daily reported that only 9% of Kenyans have permanent, full time jobs… Mass unemployment among our youth is a ticking time-bomb. Continue Reading
Imagine, for example, that there was a blanket tax rate on land of, say, KES 1,000 per acre per month, or KES 12,000 per annum. Continue Reading
The reality is that the US is a de facto one-party state. Continue Reading
An economically undeveloped society with an inequality of opportunities is a society that is ripe for land reform. An economy/society that allows the accumulation – for a select few – of an unearned income arising from the private ownership of land is an unjust economy/society. Continue Reading