The People’s Money examines the roots and connection between Populism and the current financial system. Kuzminski goes back to the historical roots of Populism and demonstrates how the original Populists, led by James B. Weaver, were very suspicious of the American financial system because of the money shortage dating back to the Panic of 1873. This event led to the rise of the Populists as a party. Kuzminski very carefully and effectively shows how the financial elements of the period led the Populists to distrust the American monetary system as it existed. The ultimate thesis of the work is that the Populists' cynical distrust gave way to their idea of creating a public banking system, which would function by using sovereign money that people could obtain at local public banks. Kuzminski does a commendable job outlining how such a system would work and function. It is a valuable contribution to the field and provides an interesting and viable alternative to today's unreliable central banking system. Recommended. Advanced undergraduates.

Choice Reviews

“The People’s Money: The Case for Public Banking in the United States is a vital read at a critical moment for 21st century democrats, republicans and independents alike - Kuzminski fuses prescient perspectives on populism with a call to re-imagine money as a public good to broadly benefit US, instead of a private monopoly that bankrupts the many while enriching the few. A must read’ for reclaiming our currency, our sovereignty, and our power."

Rob Williams, publisher of Vermont Independent: Resistance and Resilience