Aaron James

Robert Hockett

Or, Why We Should Stop Worrying about Debt and Learn to Love the Federal Reserve

Money from Nothing

Kaushik Basu

Robert C. Hockett

C Marks Professor of International Studies Kaushik Basu

"The rise in global conflict, dramatic technological breakthroughs, and the floundering of traditional law and economics has precipitated a reexamination of the fundamentals of law and economics. This volume focuses on the new challenges arising from globalization, technological advance, and the social and political conflicts to which they give rise. Its contributors mull over the challenges of this new world and how we can steer a course giving individuals the space and freedom to work, innovate, earn, profit and prosper, and the state the wisdom to regulate and ensure that conflicts do not occur, externalities are managed, and some are not marginalized and impoverished, while others accumulate and prosper."--Provided by publisher.

Law, Economics, and Conflict

Fred Block

What if our financial system were organized to the benefit of the many rather than simply empowering the few? Robert Hockett and Fred Block argue that an entirely different financial system is both desirable and possible. They outline concrete steps that could get us there. Financial systems move the worlds savings from investment to investment, chasing the highest rates of return. They run on profit. But what if investment went to the enterprises or institutions that provided things that the majority of people would prioritize? Democratizing Finance includes six responses that seek to amend, elaborate, and challenge the arguments developed by Hockett and Block. Some of the core arguments put forward by other contributors include calls for the rapid elimination of private financial entities, the dilemmas of the politics associated with financial reforms, and the fate of parallel proposals advanced in the US in the 1930s.

Restructuring Credit to Transform Society

Democratizing Finance

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.

Or, Why We Should Stop Worrying About Debt and Learn to Love the Federal Reserve

Money From Nothing

Robert Hockett

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