Reconsidering the Privileged Powers of Banks

<p>This book explores the privileged powers commercial banks hold namely their ability to create money out of nothing and then have that money grow in tune with a positive interest rate. Said powers defy in an unnatural sense the first and second laws of thermodynamics. The necessity of understanding the dual natures of money wealth and real capital or put differently the reality that these three entities are simultaneously individual affluence and collective biophysical debt is emphasized. The book culminates by proposing completely new foundations of money wealth and real capital for any society on a pathway of responsible development.</p><p></p>