Where Does Money Come From?
by Josh Ryan-Collins, Tony Greenham, Richard Werner, Andrew Jackson · first published 2017
7mentions
5recommended by
7HN commenters
2017–2024first – last mentioned
71% recommend29% neutral
Why HN recommends it
Explains how money is created through bank lending in the UK system. It is a short, accessible starting point for understanding monetary policy and economic cycles.
Summarised by Claude from recommending comments
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…sovereigns. But horizontal money is super important to understanding economic cycles too. A really good book about this, that focuses on the intricacies of the UK banking system to prove its points, is Where Does Money Come From: https://www.amazon.com/Where-Does-Money-Come-Ryan-Collins/dp...
on “What is the Eurodollar System? (2020) [pdf]” ↗I will offer that 'Where does money come from' By Josh Ryan-Collins, Tony Greenham, Richard Werner, Andrew Jackson. Its a fantastic short book on how money actually works in this system. The follow up to this is Richard Werners study on central…
on “Ask HN: Book recommendations for understanding financial systems?” ↗…must remove the option of escaping inflation by holding riskless cash, otherwise everybody will exert the choice to avoid (risk-adjusted inflation). Regarding your other questions, I strongly recommend Where Does Money Come From? as providing a solid, albeit somewhat polemic, introduction to how the fiat currency/fractional reserve currency system works in general (and the GBP in particular). Spoiler alert: there is general agreement…
on “Bitcoin hits $17K as bubble fears mount” ↗…Biden is doing the right or wrong thing on Ukraine or Israel; it's virtually impossible to judge what you think the central bank is doing under him. Ultimately the best starting resource I found was "Where Does Money Come From?": https://www.goodreads.com/book/show/19241338-where-does-mone...
on “Economists first underestimated inflation, then consumers and the labor market” ↗https://www.goodreads.com/book/show/13144133-where-does-mone... Where does Money come From
on “Ask HN: Book recommendations for understanding financial systems?” ↗The book you read in 2006 couldn't have been Graeber's _Debt_ (which is more informal and opinionated), and it wasn't Ryan-Collins's and Werner's _Where Does Money Come From_... So what book was it?
on “A simple explanation of how money moves around the banking system (2013)” ↗…to The City of London Corporation which was a financial center made (again) independent from royal authority during the reign of William III to allow its banks to charge interest rates. From the book Where Does Money Come From (2011): The Dutch brought the concept to England following the successful invasion by the Dutch Prince William III of Orange in the ‘Glorious Revolution’ of 1688, who displaced the reigning monarch. Under…
on “Cities stripping out concrete for earth and plants” ↗