A few years ago I wrote a piece, for Public Discourse, called “Montesquieu and the Monetary System.” It discussed our having fiat money, non-gold-standard money, today, from the perspective of the ...

Forbes contributors publish independent expert analyses and insights. I write about economic policy for the 21st century. This voice experience is generated by AI. Learn more. This voice experience is ...

THE European money crisis only dramatized what many experts have long regarded as an unassailable dictum: the free world’s monetary system is overdue for an overhaul. That system—the internationally ...

Endogenous money theory emphasises that the supply of money arises from the lending activities of banks rather than from a central authority alone. Within modern monetary systems, commercial banks ...

Definition: Fiat currency is a form of money or tender not backed by a tangible asset or commodity like gold or silver. It’s usually mandated by governments, but this isn’t always the case. The ...

Monetary dynamics in banking and financial systems encompass the processes by which money is created, circulated and managed within economies. Commercial banks create most broad money through lending, ...

Definition: Fiat currency is a form of money or tender not backed by a tangible asset or commodity like gold or silver. It’s usually mandated by governments, but this isn’t always the case. The ...

The global financial system is more interconnected than ever. Over the past several decades, the financial industry has globalized and become more concentrated. The operations of various ...

This article is part one of The Conversation’s “Business Basics” series where we ask leading experts to discuss key concepts in business, economics and finance. For the most part, economists continue ...