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When commercial banks issue loans to customers, they create money by issuing deposits on the current account of the customer. Proposals for adoption of alternative systems, where a central bank would issue new money, such as the Sovereign Money (SM) system, have gained momentum in recent years.
Commissioned by Iceland’s Prime Minister’s Office, KPMG has laid out the fundamentals of the SM system and conducted a review of public discussions, political coverage and field of academics over the last years.

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Is a world dominated by profit and competition a good place to be? This summer program focuses on ways to restructure economic systems to embody sustainable use of resources and a more collaborate society overall. At AEMS you learn about: The variety of alternative economic and monetary systems that are already in practice worldwide. Ecologic […]

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