Prof. Richard A. Werner Official Telegram

Prof. Werner's interview with BBC South Today in 2013, on the benefits of community banks and their role in helping small businesses thrive in Bavaria.

https://youtu.be/r6i3GANUw-o

Danielle DiMartino Booth interviews Richard Werner on banking, quantitative easing & markets.

https://youtu.be/TkCU_n0h4Qc

BoJ, one of the bank regulators in Japan, moves towards stepping into the arena to compete with the banks it regulates, by preparing to offer direct current accounts to the public (named CBDC to get you off track).

https://mobile.reuters.com/article/amp/idUSKBN2BS0EG?__twitter_impression=true

In the 20th century, there were three theories of banking (credit creation arguing banks individually create credit, fractional reserve arguing that only the banking system as a whole creates credit, and financial intermediation theory arguing banks are unimportant and do not create credit).

Today, mainstream economics, such as neoclassical economics, teach us that banks are purely financial intermediaries providing a middleman between lender (those who deposit) and borrower (those who take out a loan) and are not 'special'.

In 2014, Prof. Richard Werner conducted the first ever empirical test in the 2000-yr history of banking to determine which theory is correct. Since publishing his findings, Central Banks have been forced to openly admit that banks are not merely financial intermediaries and do create credit.

https://www.sciencedirect.com/science/article/pii/S1057521914001070

Virtually all economics since Ricardo have been based on equilibrium paradigm. But, do lower interest rates lead to higher economic growth? The 1st empirical test of all classical, neoclassical, Keynesian, post-Keynesian, and monetary economics:

https://www.sciencedirect.com/science/article/pii/S0921800916307510