{"product_id":"making-money-work-how-to-rewrite-the-rules-of-our-financial-system-9781394257263","title":"Making Money Work: How to Rewrite the Rules of Our Financial System","description":"\u003cp\u003e\u003cb\u003eThe Global Financial Crisis broke the monetary system. Here's how to fix it.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIn \u003ci\u003eMaking Money Work: How to Rewrite the Rules of Our Financial System, \u003c\/i\u003e Matt Sekerke and Steve H. Hanke deliver a rigorous and fascinating exploration of the monetary economy. You'll find a detailed and clear roadmap of how and why fiat money is created and destroyed, its connections to the broader economy, and the objective mechanisms that underwrite and maintain its value.\u003c\/p\u003e \u003cp\u003eIn their exploration, Sekerke and Hanke solve many problems and puzzles and shed light on several important questions: \u003c\/p\u003e \u003cul\u003e \u003cli\u003eWhy economists misunderstand the structure and function of the monetary system\u003c\/li\u003e \u003cli\u003eThe central role of the commercial banking system in fiat money regimes, and why commercial banks are not like other financial intermediaries\u003c\/li\u003e \u003cli\u003eThe economic and regulatory constraints on bank money creation\u003c\/li\u003e \u003cli\u003eThe interplay between banking and capital markets in funding investment projects\u003c\/li\u003e \u003cli\u003eHow the \"banks\" that dominate the international financial landscape distort the lines between banking and capital markets business\u003c\/li\u003e \u003cli\u003eWhy banking regulation and fiscal policy determine and constrain monetary policy to an equal or greater extent than central bank actions\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eSekerke and Hanke trace important post-crisis policy developments and sketch the broad strokes of a new operating model that would restore the performance of the monetary system and make better use of aggregate savings: \u003c\/p\u003e \u003cul\u003e \u003cli\u003eMaking neutrality the explicit goal of monetary policy, properly understood\u003c\/li\u003e \u003cli\u003eIncreasing the supply of bankable projects and keeping them on bank balance sheets\u003c\/li\u003e \u003cli\u003eBreaking the financial system's fatal attraction to land and real estate\u003c\/li\u003e \u003cli\u003eReducing regulatory distortions in lending markets\u003c\/li\u003e \u003cli\u003eReforming universal banking institutions and stimulating competition\u003c\/li\u003e \u003cli\u003eTransitioning to a quantity-based monetary policy framework\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eAn engaging and incisive guide to the global systems of money and banking, \u003ci\u003eMaking Money Work\u003c\/i\u003e is destined to become a sought-after classic for bankers, finance professionals, policymakers, regulators, academics, and laypeople with an interest in money and banking.\u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eBinding Type:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Wiley\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 04\/29\/2025\u003cbr\u003e\u003cb\u003eISBN:\u003c\/b\u003e 9781394257263\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 464","brand":"Matt Sekerke, Steve H. Hanke","offers":[{"title":"Default Title","offer_id":45150686347445,"sku":"9781394257263","price":29.71,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0473\/0804\/6492\/files\/img_b762b753-1613-4378-b660-bef6a8f48cae.jpg?v=1741104932","url":"https:\/\/pastforward.org\/products\/making-money-work-how-to-rewrite-the-rules-of-our-financial-system-9781394257263","provider":"Past Forward","version":"1.0","type":"link"}