Reflections on full reserve banking and sustainability in a long term perspective

Research output: Contribution to book/anthology/report/conference proceedingArticle in proceedingResearch

Abstract

Following the financial and economic crisis, money and finance have become important issues on the political and scientific agenda. Discussions focus on the role of the financial system in relation to the emergence of the crisis, policies to cope with the crisis and suggestions regarding reforms of the system. Because of the need to cope with environmental, distributional and economic crises in combination, issues related to finance have also attracted increased attention among environmentalists and within the field of ecological economics. In this community, one of the most popular suggestions is to introduce full reserve banking (or related arrangements), but the idea meets with substantial criticism from some Keynesian economists who are also concerned about environment and distribution. The intention with this paper is to provide an overview of the main participants and the key arguments in the debate on full reserve banking and to discuss whether the proposal is useful from a sustainability perspective. It is also discussed whether other proposals are more promising, either as alternatives or in combination with full reserve banking, and what the potential is for political mobilisation based on different proposals. The paper is based on a combination of literature studies and interviews with actors, including a hearing carried out in Copenhagen in September 2014.
Original languageEnglish
Title of host publicationEAEPE 2015 Online Proceedings
Number of pages15
Publication date2015
Publication statusPublished - 2015
Event27th Annual Conference of the European Association for Evolutionary Political Economy - Genoa, Italy
Duration: 17 Sep 201519 Sep 2015
Conference number: 27

Conference

Conference27th Annual Conference of the European Association for Evolutionary Political Economy
Number27
CountryItaly
CityGenoa
Period17/09/201519/09/2015

Cite this

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title = "Reflections on full reserve banking and sustainability in a long term perspective",
abstract = "Following the financial and economic crisis, money and finance have become important issues on the political and scientific agenda. Discussions focus on the role of the financial system in relation to the emergence of the crisis, policies to cope with the crisis and suggestions regarding reforms of the system. Because of the need to cope with environmental, distributional and economic crises in combination, issues related to finance have also attracted increased attention among environmentalists and within the field of ecological economics. In this community, one of the most popular suggestions is to introduce full reserve banking (or related arrangements), but the idea meets with substantial criticism from some Keynesian economists who are also concerned about environment and distribution. The intention with this paper is to provide an overview of the main participants and the key arguments in the debate on full reserve banking and to discuss whether the proposal is useful from a sustainability perspective. It is also discussed whether other proposals are more promising, either as alternatives or in combination with full reserve banking, and what the potential is for political mobilisation based on different proposals. The paper is based on a combination of literature studies and interviews with actors, including a hearing carried out in Copenhagen in September 2014.",
author = "Inge R{\o}pke",
year = "2015",
language = "English",
booktitle = "EAEPE 2015 Online Proceedings",

}

Røpke, I 2015, Reflections on full reserve banking and sustainability in a long term perspective. in EAEPE 2015 Online Proceedings., Genoa, Italy, 17/09/2015.

Reflections on full reserve banking and sustainability in a long term perspective. / Røpke, Inge.

EAEPE 2015 Online Proceedings. 2015.

Research output: Contribution to book/anthology/report/conference proceedingArticle in proceedingResearch

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