Miguel A. Fernández Ordóñez.
An Introduction to Monetary Reform.
There are very few books in Spanish that deal with bank money reform. There is a classic, the one entitled “Money, Bank Credit and Economic Cycles” by Jesús Huerta de Soto, which is the best story in Spanish of the ideas of economists critical of the “fractional” banking system. In terms of translations, there is only “The End of Banking” by Jonathan McMillan, edited by Penguin. And, of course, my book “Farewell to Banks” published less than a year ago.
That is why the appearance of a book in Spanish like the one that AFJM has now published entitled “Democratizing Money” is almost an event. The book includes 12 articles by various authors, among which are M. Kumhof and J. Huber, whose work we have commented on several times on this blog.
The book is edited by AFJM members Govert Schuller, Mark Young and Jesús Suaste.
AFJM, “Alliance for Just Money”, is one of those organizations, such as Positive Money in the United Kingdom or Monetative in Germany, which, before the explosion of interest in public digital money (CBDC), defended the need to reform the monetary system when most analysts were proposing to increase bank protections and regulations to reduce the severity and frequency of banking crises.
Miguel A. Fernández Ordóñez is a Spanish economist and former Governor of the Bank of Spain (2006 – 2012). In 2018 he came out in favor of a radical reform of the banking and monetary system.
The original blog in Spanish is here.