Ann Pettifor

The global market in money - housed in the offshore 'shadow' banking system - holds $217 trillion in financial assets and operates beyond the reach of any nation's taxman. Asset managers, private equity firms, and pension and sovereign wealth funds scoop up the world's savings for investment and manage them as they choose, unaccountable to politicians or the citizens who elect them. In this brilliant, accessible and incisive introduction to the murky world of glo­balized finance, Ann Pettifor links the activities of remote mobile financial markets to both the cost-of-living and climate crises. In an insane global casino, bankers are gambling with our future. When we foot the bill, no one but a few economists understands what has happened. The result is volatile, unpre­dictable and uncontrollable speculation in global commodities, pension, energy, and housing. Pettifor argues that societies and gov­ernments can take back control of the global financial system. We have done it before and can do it again. Indeed, it is imperative that we do so if we are to manage the twin threats of climate breakdown and biosphere collapse.

For readers of Brett Christophers, Yanis Varoufakis and Grace Blakeley, Pettifor unpacks the hidden world of shadow banking and show how global markets really work. Wall Street controls the price of anything. Larger than the national economies, and almost invisible, it nevertheless determines the international costs of everyday things - from the cost of oil to household goods and most importantly of all, credit. Unless we understand how the money system works we will never be able to face the challenges of the climate crisis. We can not hope to face climate catastrophe until we have taken control of the financial system. It is the pursuit of profit, wherever in the world it can be leveraged, that makes it impossible for national governments to impose restrictions on carbon. Pettifor charts the vast networks that ensnare us, and shows that prices are more than supply and demand. She shows us that the rise in the price of oil in 2022 had little to do with Russia. And why the global price of copper is determined by an exchange in Chicago. Understanding these networks matter, and turning them towards the common good, if we have any hope for the future.'Pettifor was always the ideal author of a book that shatters the fantasy of apolitical money and the toxic myth that monetary policy must remain a democracy-free zone.' Yanis Varoufakis'In language we can all understand, Ann Pettifor explains the issues and the debates around money, shadow banking, QE and 'helicopter money.' A must-read.' Caroline Lucas

In 2008, the first Green New Deal was devised by Pettifor and a group of English economist and thinkers, but was ignored within the tumults of the financial crash. A decade later, the ideas was revived within the democratic socialists in the US, forefront by Alexandria Ocasio Cortez. The Green New Deal demands a radical and urgent reversal of the current state of the global economy: including total de-carbonisation and a commitment to fairness and social justice. Critics on all sides have been quick to observe that the GND is a pipe dream that could never be implemented, and would cost the earth. But, as Ann Pettifor shows, we need to rethink the function of money, and how it works within the global system. How can we bail out the banks but not the planet? We have to stop thinking about the imperative of economic growth-nothing grows for ever. The program will be a long term project but it needs to start immediately.

Hur kan vi ha råd att rädda banker, men inte att göra de nödvändiga investeringarna för att rädda planeten? Ann Pettifor visar i denna bok att en snabb och rättvis omställning av den globala ekonomin bort från beroendet av fossila bränslen är möjlig. Kampanjen för en Green New Deal har potential att bli den största globala rörelsen någonsin. Men om den ska lyckas måste vi förändra ekonomin i grunden och ta tillbaka makten från de privata intressen som kontrollerar det finansiella systemet. Vi har råd och vi måste sätta igång omedelbart. Ann Pettifor är ekonom och direktör för Policy Research in Macroeconomics (PRIME). Hon är känd för att ha förutsett den globala finanskrisen i boken The Coming First World Debt Crisis (2006). Med förord av Daniel Suhonen.

Is it possible for businesses to have a bottom line that is not profit and endless growth, but human dignity, justice, sustainability and democracy? Or an alternative economic model that is untainted by the greed and crises of current financial systems? Christian Felber says it is. Moreover, in Change Everything he shows us how. In this new and updated edition of the book that sparked a global movement, Christian Felber proposes a blueprint for an economics of everybody: ethical, dignified, sustainable and principled. He shows that The Economy for the Common Good is not just an idea, but has already become a broad international movement with thousands of people, companies, communities and organizations participating, developing and implementing it.

The GND has the potential of becoming one of the largest global campaigns of our times, and it started in Ann Pettifor's flat. In 2008, the first Green New Deal was devised by Pettifor and a group of English economist and thinkers, but was ignored within the tumults of the financial crash. A decade later, the ideas was revived within the democratic socialists in the US, forefront by Alexandria Ocasio Cortez. The Green New Deal demands a radical and urgent reversal of the current state of the global economy: including total de-carbonisation and a commitment to fairness and social justice. Critics on all sides have been quick to observe that the GND is a pipe dream that could never be implemented, and would cost the earth. But, as Ann Pettifor shows, we need to rethink the function of money, and how it works within the global system. How can we bail out the banks but not the planet? We have to stop thinking about the imperative of economic growth-nothing grows for ever. The program will be a long term project but it needs to start immediately.

I denna tankeväckande och välskrivna bok förklarar Ann Pettifor historiens mest missförstådda uppfinning: penningsystemet. Pettifor visar att demokratiska stater både kan och bör återta kontrollen över produktionen av pengar och reglera finanssektorns aktiviteter så att den tjänar samhällets intressen. Produktionen av pengar granskar också de reformer som förespråkas av den växande penningreformrörelsen, som gröna kvantitativa lättnader och helikopterpengar . Pettifor argumenterar övertygande för bokens hoppfulla budskap: i ett rationellt organiserat penning- och kreditväsende kan brist på pengar aldrig stå i vägen för de investeringar som krävs för att skapa ett hållbart och rättvist samhälle. Ann Pettifor är ekonom och direktör för Policy Research in Macroeconomics (PRIME) och sedan 2015 ekonomisk rådgivare till det brittiska Labourpartiet. Hon är mest känd för att ha förutsett den globala finanskrisen i flera artiklar och i boken The Coming First World Debt Crisis. Hon är även medlem i New Deal Group, en grupp ekonomer som i juli 2008 lanserade ett upprop för att möta finanskrisen med stora investeringar i en klimatomställning. Med förord av Markus Kallifatides, docent vid Handelshögskolan i Stockholm.

According to leading economist Ann Pettifor, one of the few people to predict the 2008 financial crisis, money is not a commodity but a promise. This radical reconsideration of the power of money means that we can reimagine the way the economy works. The Production of Money also examines popular alternative debates on, and innovations in, money, such as "green QE" and "helicopter money." She sets out the possibility of linking the money in our pockets (or on our smartphones) to the improvements we want to see in the world around us.

Money makes the world go round: but what is it really? And how is it produced? Above all, who controls its production, and in whose interests? Money is never a neutral medium of exchange. Nor are bankers simply go-betweens for savers and borrowers. In this accessible, brilliantly argued book, leading political economist Ann Pettifor explains in straightforward terms history's most misunderstood invention: the money system. Pettifor argues that democracies can reclaim control over money production and subordinate the out-of-control finance sector to the interests of society, and also the ecosystem. She also examines and assesses popular alternative debates on, and innovations in, money: positive money, helicopter money and the rise of goldbugs. She sets out the possibility of linking the money in our pockets (or on our smartphones) to the change we want to see in the world around us.