Money From Nothing

From Alexandria Ocasio-Cortez’s economic advisor Robert Hockett and bestselling philosopher Aaron James comes a probing exploration of what the dollar really is (even some economists misunderstand or ignore it) and how its power can be harnessed to create the shared prosperity that has always been the great promise of American democracy.

After fifty years of stagnating wages and the ever-growing gap between the rich and the rest of us, many Americans believe that their government and their society have broken faith with them. Hockett and James aim to repair and renew our fraying social contract by showing how money itself can restore shared prosperity and protect democracy against the rising tide of authoritarianism. To address these problems, MONEY FROM NOTHING lays out a new vision of money and public finance, without the wonky policy arguments that make even the educated reader’s eyes glaze over. Most importantly, the bold plan laid out here-which includes the Federal Reserve putting real money directly into the bank account of each and every citizen-avoids the pitfalls of unwanted taxes, added regulation, and increased inflation.