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About Policy Spotlights

This column includes short pieces explaining policy proposals that highlight, revise, or contest current monetary design. While we focus on contemporary proposals, historical episodes may be included occasionally. Columns are written by editors or by student authors and will be updated monthly. Students interested in becoming a Just Money columnist should contact Dan Rohde: editor@justmoney.org.

Policy Spotlight
The Narrow Bank Update:
SDNY dismisses TNB suit

Author: Gavriel Schreiber

The Narrow Bank (TNB) is a state-chartered passthrough bank that proposes to hold only one asset: account balances at the Federal. . Providing an ultra-safe option for large investors to hold their high-powered money is meant to increase financial stability and extend the benefits of Federal Reserve accounts,

Policy Spotlight
Public Banking

Author: Bryna Godar

The public banking movement has gained significant momentum in recent years, with groups across the country looking into the viability of government-owned banks for their communities. From a “pot bank” in Los Angeles to a “public infrastructure bank” in Massachusetts, proponents of public banking view it as a way to address community needs and better leverage taxpayer funds to benefit the public.

Policy Spotlight
Italy’s mini-BOT Proposal

Author: Michael Svedman

The proposal by Italy’s Lega Norda (or League) political party to introduce a currency-like instrument called the mini-BOT that would circulate alongside the euro has generated significant commentary and criticism. These debates shed light on the public dimension of money by forcing us to consider the relationship between monetary authority and political sovereignty. With implications reaching far beyond the economic impact of such an instrument, the mini-BOT raises urgent questions about the stability of the European Union, the rise of populism on the Left and Right, and the coherence of the neoliberal political and economic consensus that underwrites the EU project.