Remarks on Positive Money

Positive Money is a proposal put forward in the UK that is explained succinctly and accessibly in a free document, The Positive Money System in Plain English. The explanation is based on a book that I have not read, Modernising Money, by Andrew Jackson and Ben Dyson, which, according to the Positive Money website “in turn builds on the work of Irving Fisher in the 1930s, James Robertson and Joseph Huber in Creating New Money (2000), and a submission made to the Independent Commission on Banking by Positive Money, New Economics Foundation and Professor Richard Werner (2010)”. The proposal is quite interesting and might make for a decent discussion. In an effort to get things rolling, I will summarize the key aspects of the proposal and offer brief remarks. It should be noted that banking is not my forte, so I will mainly be interested in the reactions of those with more knowledge in the area.

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