Where does money come from? How is money created? Can commercial banks create money by issuing new loans? Knowing that electronic money represents 95% of the total money supply, have we privatized the creation of money in our societies?
Ole Bjerg believes that we have handed a vital societal power — money creation — to the financial sectors, and that this leads to instability, inequalities and a concentration of power outside democratic institutions. Facing this gloomy situation, he highlights the solution: a sovereign money system.
Ole Bjerg is an Associate Professor in the Department of Management, Politics and Philosophy at Copenhagen Business School, and co-founder of Gode Penge, an initiative for the democratization of the monetary system.