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Reconsidering the Privileged Powers of Banks

Foundations of Sovereign Money, Wealth and Real Capital for Sustainability

Kozo Torasan Mayumi Ansel Renner

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Hardback

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English
Springer Verlag, Singapore
27 October 2023
This book explores the privileged powers commercial banks hold, namely, their ability to create money out of nothing and then have that money grow in tune with a positive interest rate. Said powers defy, in an unnatural sense, the first and second laws of thermodynamics. The necessity of understanding the dual natures of money, wealth, and real capital, or, put differently, the reality that these three entities are simultaneously individual affluence and collective biophysical debt, is emphasized. The book culminates by proposing completely new foundations of money, wealth, and real capital for any society on a pathway of responsible development.
By:   ,
Imprint:   Springer Verlag, Singapore
Country of Publication:   Singapore
Edition:   2023 ed.
Dimensions:   Height: 210mm,  Width: 148mm, 
Weight:   447g
ISBN:   9789819960576
ISBN 10:   9819960576
Pages:   221
Publication Date:  
Audience:   Professional and scholarly ,  Undergraduate
Format:   Hardback
Publisher's Status:   Active

Kozo Torasan Mayumi graduated from the Graduate School of Engineering at the Department of Applied Mathematics and Physics of Kyoto University. Between 1984 and 1988, he studied bioeconomics at the Department of Economics of Vanderbilt University under Prof. Nicholas Georgescu-Roegen’s supervision. Mayumi has been working in the field of energy analysis, ecological economics and complexity/hierarchy theory. Having retired from Tokushima University, he now works at the Kyoto College of Graduate Studies for Informatics. Ansel Renner graduated from the Department of Geography and School of Environment of McGill University and the Institute of Environmental Science and Technology of the Autonomous University of Barcelona. As an academic researcher at the latter-mentioned institute, also as an independent contractor, Renner has been working on accounting methodology for processes of informed deliberation on the science-policy interface in relation to systemic issues of sustainability.

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