Economy

Why the Public Must Understand How Our Monetary Systems Work

Political economist Ann Pettifor talks finance, Brexit, Bitcoin, and more.

Photo Credit: Carlos Yudica/Shutterstock

Left Out, a podcast produced by Paul Sliker, Michael Palmieri, and Dante Dallavalle, creates in-depth conversations with the most interesting political thinkers, heterodox economists, and organizers on the Left. 

In this episode of Left Out, political economist Ann Pettifor speaks with Paul Sliker about the production of money, as well as why challenging the despotic power of finance and fixing our economic system, crucially depends on people's understanding of it all.

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"Very often my experience is that activists don't ever talk about this stuff. They don't have a list of these demands. We want to do something about taxes or we want to do something about investment—all that tangible stuff that you can see on a day-to-day basis. We don't ever to talk about this thing which you can't see, which is the financial system. So if we can just get talking about that we'll begin to make ways." Pettifor

Topics discussed:

  • Money - what it is and how it is produced;
  • How our banking and monetary systems work;
  • Why mainstream economists leave out the activity of Banks, Money, and Private Debt in their thinking and modeling; 
  • Solutions for fixing and democratizing the global financial system;
  • What the general public can do once they understand how our banking and monetary systems work;
  • How people can effectively challenge and reverse the influence of extremely powerful financial interests;
  • Bitcoin; Job Guarantee vs. UBI; Brexit; Jeremy Corbyn and the state of the Labour Party; European politics and the rise of the Far Right

Pick up Ann's latest book: The Production of Money: How to Break the Power of Bankers

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Paul Sliker is a writer and the co-host of LEFT OUT— a podcast that creates in-depth conversations with the most interesting political thinkers, heterodox economists, and organizers on the Left. Follow him on Twitter: @psliker

Michael Palmieri is the co-host of LEFT OUT — a podcast that creates in-depth conversations with the most interesting political thinkers, heterodox economists, and organizers on the Left.

Dante Dallavalle is a graduate student in Economics at John Jay College of Criminal Justice and the co-host of LEFT OUT — a podcast that creates in-depth conversations with the most interesting political thinkers, heterodox economists, and organizers on the Left. Follow him on Twitter: @Drax138