There has been much media coverage of the unfolding economic turmoil since the onset of the sub-prime crisis in 2008. Meanwhile, debt is growing exponentially and is now reaching unsustainable levels. Discussion among politicians, bankers, economists and in the media identifies supposed solutions such as printing money to bailout banks which in turn are expected to stimulate investment and a return to economic growth. The banks continue to thrive on this largesse from governments and central banks, all funded by hard pressed citizens who are under increasing pressure from rising prices, cutbacks in spending and rising unemployment.
This module is exploring the origins and mechanics of fractional reserve banking, its culpability in creating the crisis by driving inequality and transferring an increasing proportion of wealth to banking interests and the wealthy.
References for this module are available here: