Money From Nothing, Robert Hockett
Money From Nothing, Robert Hockett
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Money From Nothing
Or, Why We Should Stop Worrying About Debt and Learn to Love the Federal Reserve

Author: Robert Hockett, Aaron James

Narrator: Tristan Morris

Unabridged: 11 hr 6 min

Format: Digital Audiobook Download

Published: 09/15/2020


Synopsis

A major work of financial theory and practice with immediate relevance to the rebuilding of the economy, and restoring the promise of equality

When the government decides to spend money, it simply creates the necessary funds for itself--as if out of thin air. That's how we pay for interstate highways, post offices, wars, social services, and economic stimulus packages. If it's that easy to make money...can't we all get more of it? Absolutely. And we should.

So argue financial regulation expert Robert Hockett and bestselling philosopher Aaron James in this eye-opening, irreverent, and inspiring exploration of what the dollar really is. And better still, they show how we can build an economy that works for everybody without unwanted taxes and added regulations.

In the process, we learn how disingenuous the political rhetoric surrounding inflation can be, how the demonized concept of the deficit is really just another way of tallying our collective national wealth, and how a strong central bank could free us from the abuses of private banking.

With broad historical background and ambitious yet practical institutional proposals, Hockett and James offer a new vision of public finance--people's banking for a people's economy. Armed with this new outlook, we can even stop worrying debt and learn to love a strong, accountable, and transparent Federal Reserve as a cornerstone of our democracy.

Reviews

Goodreads review by Nguyễn on January 31, 2022

What I liked most about this book is the way it explained to me what money really is, which is anything widely accepted in a community as a means to settle debt. What is recognized as money have taken many shapes and forms throughout humankind's history, from salt, seashells, metal coins to packages......more

Goodreads review by CJ on November 07, 2020

"How are you going to pay for it? " If you're curious about that question read this fantastic book. I found the backhalf more manageable than the first half. The first half talks about money from a philosophical POV. The second half is about action and what that would mean for the USA as a whole. I'm......more

Goodreads review by Steve on August 27, 2020

It’s about monetary policy, not about printing money I enjoyed this book. The authors discuss the history of money and carefully explain their version of modern monetary theory and its implications. The ideas expressed are very different from what I am used to hearing in the media and from politician......more

Goodreads review by Marcello on December 03, 2023

Not worthy I found the book repetitive, long, based on anecdotes rather than facts, and biased towards an idea that has never been tested in real life. The authors point problems of existing model without offering credible solutions. Extremely disappointing.......more

Goodreads review by Elizabeth on September 17, 2021

It's impossible not to appreciate a book on economics that contains sentences like "The image of the 'all-knowing Fed' always required banking to be shrouded in Wizard of Oz optics—which is to say, propagandistic smoke and mirrors, or, if you will, bullshit." So, if the phrases "national debt" and "......more