Kate Raworth’s ‘Doughnut economics’ challenges economists to do better – to design institutions and economies that are just and sustainable. But will the doughnut fly?

Private banks create most of our money. The rest – coins and banknotes – make up only a small percentage. Several recent developments challenge this historically-evolved arrangement. Monetary reform could be as urgent as preventing the next banking crisis and the breakdown of the Euro zone. According to monetary reformers, better control of money creation could remove a major cause of economic crises.