Crucially, society as a whole needs to think differently about the nature of money –possibly by first discarding the term itself. “Money” encompasses a range of phenomena that have intrinsically different purposes and risks. Commercial bank deposits are materially different to banknotes, for example, which are different to reserve funds. Money as a concept is increasingly outdated and misleading.
— “‘Outdated and misleading’: is it time to reassess the very concept of money?,” Stuart Kells in The Guardian
Dear Neighbor: An Open Response to Raj Bhakta
In response to a ‘Dear Neighbor’ letter from a local millionaire, I’m setting the record straight. As we approach our annual town meeting, he is using misinformation to pressure the town into action. My open letter challenges his claims and highlights the truth.