In order to describe the global structure of the monetary and financial system and its effects on the global economy, most economics textbooks rely on unappropriated theories that provide nothing but outdated descriptions. In this talk, key speakers in economics, economic history and banking try to make this complex system a little more understandable by relying on real-world insights.

As part of the 2019/2020 Exploring Economics Experience, one of our supporters Prof. Steve Keen gave a presentation to our editorial team. Read more

This essay analyses how the role of central banks changed since the global financial crisis, and how this directional change was accelerated by the outbreak of Covid-19.

The world has seen the emergence of a rather different system of international lender of last resort organized as a network of central bank liquidity swap lines largely limited to the core countries of the Global North In this system central banks swap their own currency for dollars which they …