banks Archives - Labour Business

On Money, Banks and Social Justice, The Real Challenges Ahead

A review of ‘Where Does Money Come From?’ (2nd edition 2012). By Josh Ryan-Collins, Tony Greenham, Richard Werner and Andrew Jackson. New Economics Foundation. Money is at the source of the greatest misconceptions in economics, amongst the general public, trained

Accounting in UK Banking Sector Needs Drastic Reform

In November 2012, the Bank of England released its autumn Financial Stability Report (FSR). Chapter two shows the market capitalisation of the banks is significantly lower than their reported asset values. This indicates market mistrust of the accounting numbers amongst

Minsky: Money, Banks and Debt Crucial to Understanding Economics

The start of the financial crisis in 2007 has often been described as a ‘Minsky moment’, named after the late American economist Hyman Minsky. Minsky challenged mainstream theory about the way business cycles worked, and the impact of the financial