As long as the companies running the banks are driven by capitalist values they must be driven by the drive for profit, and therefore risk. This would not be so important if the activities of the privatised banking sector were not a liability on the public. But the financial system is interconnected and the only way to save some parts is to save the whole. The speculative sector can only be separated if the deposit-based sector is not part of the capitalist system and if its credit creation capacity is brought under democratic control.
in the time remaining, to help us understand how the man-made system of capitalism will lead to the extinction of our human species, and so many others.
Saturday, May 15, 2010
The future of money
by Mary Mellor from Red Pepper (Britain). This professor of social science and author of The Future of Money provides some excellent arguments for democratic control over money.