Paul Krugman to Bernard Lietaer: 'Never touch the money system!'

It is quite surprising that researching the money system is considered by The Very Serious People* as a domain of 'cranks'.

I can understand when conspiracy theories are dismissed, but when it comes to money, any theory is dismissed prima facie, whatsoever carefully it is researched and supported by facts.

Money is a fundamental social institution, and naturally, you would expect to see a broad public debate about how this institution is designed and how it can be improved.

In fact, the ways to improve the monetary system - full-reserve banking, MMT, the Freigeld concept - are rarely discussed and overwhelming majority of people has never heard about them. At the same time non-issues like national debt and budget deficit are on the first pages of political manifestos, broadsheets and tabloids (especially tabloids!).

Even when it comes to the crypto world, the immediate mainstream reaction has been praising the blockchain as technology and trying to dismiss bitcoin as a currency.

It is puzzling, isn't it?

What do you think is the main reason of the deafening silence around the money system?

*The Very Serious People - a term handily coined by Paul Krugman to show us that people often become a parody of themselves.