“The process by which banks create money is so simple that the mind is repelled.”

J. K. Galbraith

Minicourse macro-economics

The Art Reserve Bank hopes to stimulate the discussion about the basics of our financial system. For anybody who isn't acquainted with it yet or for those who would like to refresh their knowledge, industrial economist René Heunen has written a mini-course which explains a number of basic principles.

What is money?

What is a bank?

What do commercial banks do?

What do central banks do?

How is money created?

What is interest?

Coop Art Reserve Bank — Overtoom 256, 1054JA Amsterdam — T. +31 6 1226 3331 — info@kunstreservebank.nl