To give a credit to a customer, a bank doesn't need to take the savings of another cutomer from its vaults. It creates the money out of nothing. In a countermove, the bank must deposit money with the central bank. There is a debate whether the creation of money can be left to the banks.
The Autism of Economists (tags)
Analogous to a mechanical system, neoclassicists understood the economy as a perpetual cycle of production and consumption kept in balance by the price mechanism.
How Goldman Sachs Rules the World (tags)
Hank Paulsen had famous examples: Robert Rubin, Treasury secretary under Bill Clinton, also changed from Goldman Sachs into politics. Europe and the US are firmly in the grip of Goldman Sachs.
Economics' sharpest critics regard it as an auxiliary science of astrology, a sect that sings its same little song. Classical authors like John Kenneth Galbraith are finally rediscovered. Exactness is impossible. The coming generation should be protected from mono-cultural ideology