fiat money – Dr. Steffen Murau
Dr. Steffen Murau|

fiat money

2019 | ‘Private Credit Money Accommodation. Rethinking Monetary Sovereignty (with Jens van ‘t Klooster)

The conventional way of thinking about the monetary system implies that we live in a world of ´fiat money’. The state – typically represented by the central bank—is conceived as the primary authority that creates […]

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2017 | ‘The Political Economy of Private Credit Money Accommodation. A Study of Bank Notes, Bank Deposits and Shadow Money’, PhD thesis

Private credit money forms are debt instruments that co-exist alongside publicly provided forms of money and emerge de-centrally out of the lending activities of banks or non-bank financial institutions. In normal times, they are easily […]

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