Positive Money is to be commended for its efforts in helping to bring the deep and systemic problem of Economic Growth to the public eye. However, while agreeing with this broad orientation, it is worth taking a close look at the report’s policy proposals and at the economic theory behind them.
Nowhere in Escaping Growth Dependency is it assumed that ending fractional reserve banking is the only option for positive change. But the report does claim that monetary reform is often overlooked as a viable area of work for the ecological project.
In our report released today A Green Bank of England, we propose several policies and political reforms that would hardwire the Bank of England for climate sustainability.
The first day of March is not only St David’s Day, but it’s also the day in 1946 when the Bank of England was nationalised. It was appropriate therefore, that Positive Money should convene its fourth Conference on Saturday 1st March 2014 at the Conway Hall, London.