Driven to Consumption and Money Created out of Nothing
by Mathais Binswanger, Aaron Sahr, and Branko Milanovic
Growth originally created a material prosperity about which earlier generations could only dream. However, more economic growth does not make people happier anymore. We are prisoners of a system that forces us to permanent growth.
Banks create credits at the push of a button, wages stagnate, schools decay, and Goldman Sachs is in the government. Who benefits from this? Money creation is an accounting process, nothing more. Banks decide how much money exists and what is financed.