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Simon Rose

The Book Review: What actually is money?

Simon Rose
Original Broadcast:

Book Review

The Book Review: What actually is money?
Nearly a decade ago the world's biggest banks were brought to their knees. And with each new victim of the financial crisis, it quickly became clear how ignorant regulators had been about the activities of those in the City. But, whilst we have pulled back from the brink, the financial system hasn't become any less mystifying. For those not in the monetary policy bubble, the idea that central bankers can conjure funds for quantitative easing seemingly out of thin air is purely mindboggling. So, money still makes the world go round - but what actually is it? Where does it come from - and who's in charge of creating it? I'm now joined by Ann Pettifor, director of Policy Research in Macroeconomics and author of 'The Production of Money: How to Break the Power of Bankers', which is published by Verso Books and retails for £12.99.