Monetary Reform for the Post-Growth Economy (Monetary Reform)

Abstract:

This joint project between Copenhagen Business School and New Economics Foundation views monetary reform as a crucial component in the transition towards a sustainable post-growth economy. Our aim is to provide academic research to document the relations between the current drive towards perpetual, unsustainable growth in our economy and the creation of money as commercial bank credit based on debt. In our research, we also want to demonstrate the potential economic effects of a monetary reform along the lines of Sovereign Money Creation. Our hypothesis is that such reform may remove the need for perpetual growth and thus pave the way for a different and more sustainable organization of the economy. The project also integrates an initiative to develop and teach a new minor in New Economics at CBS as well as to engage with decision makers and civil society in order to introduce monetary reform on the mainstream political agenda.