Against fictions and other tall tales. Sunday, 17 January 2016. Stiglitz on credit creation by banks. We are not in a corn economy where banks serve as an intermediary between farmers who have excess seed and farmers who want more seed. We are in an economy where banks actually create credit. And that makes a very big difference. Saturday, 19 December 2015.

Originally posted on Sapient State. Presently money instruments or things used to settle transaction agreements, e. dollars and credit cards, are unequally produced and distributed by governments and recognized banks. Even the monetary innovation called bitcoin. Mined by computers and known as a cryptocurrency. The problem with all of these money things is that none of them can act countercyclically.

To fix schools is to grade them. This policy approach ignores the larger issues causing problems outside the schools in favor of a simple set of limited issues inside the classroom. This is a sure fire way to further eviscerate public education in favor of private, profit-driven education which will further degrade our neighborhoods and community.