The nature of money in modern economy - implications and consequences by Stephen Zarlenga and Robert Poteat
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Reforming the contemporary monetary and financial system has come under the limelight with the onset of the last international financial crisis. Zarlenga and Poteat focus on the elimination of credit money and the return of the exclusive right of issuing money to the government as a key to reforming the system. In this comment, I argue that they are right, but reform should be wider and more comprehensive. My arguments are inspired by al-Jarhi's model of an Islamic monetary system (1981).
Money , Economy , Islamic economics
Mahmoud Al-Jarhi, Mabid Ali Mohamed. (2016). The nature of money in modern economy - implications and consequences by Stephen Zarlenga and Robert Poteat. Journal of King Abdulaziz University: Islamic Economics, 29 (2), pp. 75-79.
King Abdulaziz University