Rethinking Money and Capital by Swapnil Pawar is an impressive book that brings the fresh perspective about the global economy and provides solutions to the problems that are faced in it. The world of economy is facing a very difficult time and the financial crisis is happening again and again. It looks like there will be no end to this cycle but Pawar has other ideas. He thinks that we have got the options to not just address these repeating financial crises but also the ongoing social as well as environmental challenges. The solutions provided by Pawar do not rely on the higher taxes, government programs or self-interest, instead they come from simple shift in understanding money.
The author takes its readers on the journey through history of current monetary system that has been based on bank debt and scarcity. He has unleashed how this system unknowingly creates different problems. But this book is not just highlighting the problems but it also tells the stories of regular people who have used new forms of money alongside traditional currencies to lift the local economies, create new jobs, improve the living standards and provide the opportunities of education. The author says that the money is actually a social concept that we often forget. The new monetary system that is in use now a days is based on one type of money i.e., scarcity based and interest -bearing national currencies. This system has its fair share of disadvantages as well like promoting the competition over collaboration. Pawar says that we can great new systems that fulfills over needs.
This book provides the solutions for the governments, non-profits, businesses, financial institutions and communities. It clarifies this complicated but crucial topic resonating with the readers who are looking for innovative answers that go beyond restoring prosperity. In his book, Pawar makes an effective and modernized financial and monetary system proposal. It can be done by making small adjustments to the way government is currently run. The book examines topics like negative interest rates, quantitative easing, stimulus, and the place of cryptocurrencies in monetary systems and the economy, fusing theory and practical insights. Policymakers, academics, advanced students, and researchers in financial economics and international finance can all benefit from it.
All in all, “Rethinking Money and Capital” questions how we perceive money and offers workable solutions for a more prosperous and sustainable future. Anyone interested in changing the way our economy is run should respond to Swapnil Pawar’s work.