Richard Werner on “The Quantity Theory of Credit”

An interesting talk here by Richard Werner on the “The Quantity Theory of Credit” at the Post Keynesian Economics Study Group, including a critique of the quantity theory, the nature of banks and money and credit creation:

Richard Werner, “The Quantity Theory of Credit,” 30 October.

One has to scroll down in the link to the 6th talk to listen to the MP3 and see the slides.

Towards the end of the talk, there are some inventive solutions to the Eurozone crisis. Also, Victoria Chick points to this discussion of the nature of money here.

The critical discussion that follows is also insightful.