#economics #money
Where it gets dangerous is when banks capitalise land rents (that's eighty per cent of private money creation),
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Mark Wadsworth: Glad to have cleared that up.eates think it’s possible.
All right, you try banning transactions a), b) and c) above, see how far you get.
For the umpteenth time, a bit of private money/debt/credit creation to oil the wheels and smooth the system is vitally important.
<span>Where it gets dangerous is when banks capitalise land rents (that's eighty per cent of private money creation), which can only be sorted out by decapitalising land values i.e. with Domestic Rates, rent controls, mortgage restrictions caps etc. This is not hypothetical, it's what the UK did until t Summary
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