An Intermediary, Weighted List of Best Studies

Introduction

This is an intermediary, weighted bibliography of best studies in monetary theory and reform.  It is based on the opinion of a group of experts and is meant for advanced students ready for in-depth studies. 

The list is composed of about 65 items split into 1) a TOP 15 of studies receiving the highest scores with the widest consensus, and 2) a list of ca. 50 items receiving overall high scores and  wide consensus. 

Most links are connected to full texts. In the case of books you will be directed to Amazon. 

A small bibliography with introductory items for initial orientation you can find here.  The extensive bibliography of monetary reform and theory texts you can find here.

TOP 15 

Douglas, Paul H.& Fisher, Irving et al. 1939. A Program for Monetary Reform. MS.

Dyson, Ben & Graham Hodgson & Frank van Lerven. 2016. “Sovereign Money: An Introduction”. London: Positive Money.

Jackson, Andrew & Dyson, Ben. 2012. “Modernising Money: Why Our Monetary System is Broken and How it Can be Fixed“. London: Positive Money.

Fisher, Irving. 1935. 100% Money. New York: The Adelphi Company. Republished in: 1997. Works Vol. 11, ed. and introduced by William J. Barber. London: Pickering & Chatto.

Huber, Joseph & Robertson, James. 2000. Creating New Money: A Monetary Reform for the Information Age. London: New Economics Foundation.

Jakab, Zoltan & Kumhof, Michael. 2015, “Banks are Not Intermediaries of Loanable Funds – And Why This Matters”. Bank of England Working Paper No. 529. (May 29, 2015).

Kumhof, Michael & Benes, Jaromir. 2012. “The Chicago Plan Revisited“. IMF Working Papers 12/202. Washington: International Monetary Fund.

Lainà, Patrizio. 2015. “Proposals for Full-Reserve Banking: A Historical Survey from David Ricardo to Martin Wolf”. Economic Thought, 4/2: 1-19.

Phillips, Ronnie J. 1992. “The ‘Chicago Plan’ and New Deal Banking Reform”. The Jerome Levy Economics Institute, Working Paper No. 76, June 1992. Also in: Papadimitriou, Dimitris (Ed.), Stability in the Financial System, London Palgrave Macmillan. 94-114.

Ryan-Collins, Josh & Greenham, Tony & Werner, Richard & Jackson, Andrew. 2012. Where Does Money Come From? A Guide to the UK Monetary and Banking System. London: New Economics Foundation.

Sigurjonsson, Frosti. 2015. “Monetary Reform: A Better Monetary System for Iceland“. A Report Commissioned by the Prime Minister of Iceland. March 2015. Foreword by Aidar Turner. Rekjavik, Iceland.

Van Egmond, Nicolas D. & de Vries, Bert J.M. 2016. “Dynamics of a Sustainable Financial-Economic System”. Sustainable Finance Lab Working Paper. Utrecht University, The Netherlands.

Yamaguchi, Kaoru. 2010. “On the Liquidation of Government Debt under A Debtfree Money System: Modeling the American Monetary Act”. In Proceedings of the 28th International Conference of the System Dynamics Society, Seoul, Korea, 2010. The System Dynamics Society.

Yamaguchi, Kaoru. 2012. “On the Monetary and Financial Stability under A Public Money System (Revised): Modeling the American Monetary Act Simplified”. Paper presented at the 8th Annual AMI Monetary Reform Conference in Chicago, USA, Sept. 20 – 23, 2012.

Zarlenga, Stephen. 2002. The Lost Science of Money: The Mythology of Money – the Story of Power. Valatie, NY: American Monetary Institute.

Second Tier

Aliber, Robert Z. & Kindleberger, Charles P. 2015 (1978). Manias, Panics, and Crashes. A History of Financial Crises. 7th edition. New York: Basic Books.

Bjerg, Ole. 2014. Making Money: The Philosophy of Crisis Capitalism. London & New York: Verso.

Di Muzio, Tim & Robbins, Richard. 2016a. Debt as Power: Theory for a Global Age. Manchester, UK: Manchester UP.

Di Muzio, Tim & Robbins, Richard. 2017. An Anthropology of Money: A Critical Introduction. London: Routledge.

Dittmer, Kristofer. 2015. “100 Percent Reserve Banking: A Critical Review of Green Perspectives”. Ecological Economics, 109: 9–16.

Dyson, Ben & Tony Greenham & Josh Ryan-Collins & Richard A. Werner. 2010. “Towards a Twenty-First Century Banking and Monetary System”. Submission to the Independent Commission on Banking, 2010.

Ferguson, Niall. 2008. The Ascent of Money. A Financial History of the World. London & New York: Allen Lane.

Fisher, Irving. 1933. “The Debt-Deflation Theory of Great Depressions”. Econometrica, 1/4: 337–57.

Fisher, Irving. 2009 (1936). “100% Money and the Public Debt”. Economic Forum (Spring 1936): 406-420.

Galbraith, John Kenneth. 1975. Money. Whence it Came, Where it Went. New York: Houghton Mifflin.

Graeber, David. 2012. Debt. The First 5,000 Years. New York: Melville House Publishing.

Graziani, A. 2003. The Monetary Theory of Production. Cambridge, UK: Cambridge University Press.

Hixson, William F. 1993. Triumph of the Bankers: Money and Banking in the Eighteenth and Nineteenth Centuries in America. Westport, CT & London: Praeger.

Huber, Joseph. 2013. “Modern Money and Sovereign Currency”. Sovereign Money: Website for New Currency Theory and Monetary Reform.

Huber, Joseph. 2015. “The Chicago Plan (100% Reserve) and Plain Sovereign Money”. Sovereign Money: Website for New Currency Theory and Monetary Reform.

Huber, Joseph. 2017. Sovereign Money. Beyond Reserve Banking. London: Palgrave Macmillan.

Huber, Joseph. 2017. “Split-Circuit Reserve Banking: Functioning, Dysfunctions and Future Perspectives”. Sovereign Money: Website for New Currency Theory and Monetary Reform. Jan 2017. And in: Real-World Economics Review, 80 (26 june 2017): 63-84.

Huber, Joseph. n.d. “Currency and Banking Teachings. A frame of Reference of Lasting Relevance to Modern Money Systems”. Sovereign Money: Website for New Currency Theory and Monetary Reform.

Ingham, Geoffrey. 2004. “The Emergence of Capitalist Credit Money“. In L. Randall Wray (Ed.), Credit and State Theories of Money: The Contributions of A. Mitchell Innes. Edward Elgar. 173-223.

Jackson, Andrew & Dyson, Ben. 2013. “Sovereign Money: Paving the Way for a Sustainable Recovery”. London: Positive Money.

Jakab, Zoltan& Kumhof, Michael. 2014. “Models of Banking: Loanable Funds or Loans that create Funds?“. Supplementary Material for the Paper.

Jakab, Zoltan & Kumhof, Michael. 2018. “Banks are not Intermediaries of Loanable Funds: Facts, Theory and Evidence“. Bank of England, Staff Working Paper No. 761, October 2018.

Kennedy, Margrit & Kennedy, Declan. 1995. Interest and Inflation Free Money: Creating an Exchange Medium That Works for Everyone and Protects the Earth. Philadelphia: New Society Publishers.

Kindleberger, Charles P. 1993. A Financial History of Western Europe. Oxford & New York: Oxford UP.

Kumhof, Michael & Jakab, Zoltán. 2016. “The Truth about Banks”. Finance and Development. IMF Publication (March 2016).

Lainà, Patrizio. 2015b. “Money Creation under Full-reserve Banking: A Stock-flow Consistent Model”. Working Paper No. 851. Levy Economics Institute.

Lietaer, Bernard et al. 2012. Money and Sustainability. The Missing Link. Axminster: Triarchy Press

McLeay, Michael & Radia, Amar & Thomas, Ryland. 2014. Money Creation in the Modern Economy. Bank of England Quarterly Bulletin, 2014 Q1, 14–27.

Mitchell-Innes, Alfred. 1913. “What is Money?The Banking Law Journal, 30/5: 377–408. Reprinted in L. Randall Wray (Ed.), Credit and State Theories of Money: The Contributions of A. Mitchell Innes. Edward Elgar, 14–49.

Natelson, Robert G. 2008. “Paper Money and the Original Understanding of the Coinage Clause“. Harvard Journal of Law & Public Policy, 31 (2008): 1017-81.

Nuri, Vladimir Z. 2002. “Fractional Reserve Banking as Economic Parasitism“.
Economics Working Paper Archive.

Phillips, Ronnie J. 2015 (1994).The Chicago Plan & New Deal Banking Reform. Oxon, UK & New York, NY: Routledge.

Ravn, Ib. 2015. “Explaining Money Creation by Commercial Banks: Five Analogies for Public Education“. Real-World Economics Review, 71: 92-111.

Rowbotham, Michael. 1998. The Grip of Death a Study of Modern Money, Debt Slavery, and Destructive Economics. Charbury, UK: John Carpenter.

Svanbjörn, Thoroddsen & Sigurjónsson, Sigurvin B. 2016. “Money Issuance: Alternative Monetary Systems”. A report commissioned by the Icelandic Prime Minister’s Office. KPMG, Iceland.

Turner, Aidar. 2015. “The Case for Monetary Finance – An Essentially Political Issue”. Paper presented at the 16th Jacques Polak Annual Research Conference hosted by the IMF, Washington, D.C.

van Lerven, Frank & Dyson, Ben & Hodgson, Graham. 2015. “Would there be Enough Credit in a Sovereign Money System?”. London, Positive Money.

Werner, Richard A. 2012. “How to Turn Banks into Financial Intermediaries and Restore Money Creation and Allocation Powers to the State”. University of Southampton, Center for Banking, Finance and Sustainable Development, Policy Discussion Paper, No. 3-12 (8 Nov 2012): 2-9.

Werner, Richard A. 2014. “Can Banks Individually Create Money out of Nothing? The Theories and the Empirical Evidence”. International Review of Financial Analysis, 36 (2014): 119.

Werner, Richard A. 2014. “How do banks create money, and why can other firms not do the same? An explanation for the coexistence of lending and deposit-taking”. International Review of Financial Analysis, 36 (2014): 7177.

Werner, Richard A. 2016. “A lost century in economics: Three theories of banking and the conclusive evidence”. International Review of Financial Analysis, 46 (July 2016): 361-379.

Yamaguchi, Kaoru. 2014-17. “Money and Macroeconomic Dynamics: Accounting System Dynamics Approach“. Edition 3.2. Awaji Island, Japan: Japan Future Research Center.

Zarlenga, Stephen. 2005. “The 1930s Chicago Plan and the 2005 American Monetary Act“. Valatie, NY: American Monetary Institute.

Zarlenga, Stephen. 2009 (2006). Presenting the American Monetary Act”. Valatie, NY: American Monetary Institute.

Zarlenga, Stephen. 2009. “The Need for Monetary Reform“. Valatie, NY: American Monetary Institute.