McLeay, M., Radia, A., & Thomas, R. (2014): “Money creation in the modern economy”, Bank of England Quarterly Bulletin
Deutsche Bundesbank (2017): “The role of banks, non-banks and the central bank in the money creation process”
Godley, W., & Lavoie, M. (2012): “Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth”

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## Steve Keen's Work
- **Ravel Software**: [www.patreon.com/Ravelation](https://www.patreon.com/Ravelation) - System dynamics modeling
- **Substack**: [profstevekeen.substack.com](https://profstevekeen.substack.com/)
- **Free Book**: [book.stevekeenfree.com](https://book.stevekeenfree.com/)

## Academic Sources
- **McLeay, M., Radia, A., & Thomas, R. (2014)**: "Money creation in the modern economy", Bank of England Quarterly Bulletin
- **Deutsche Bundesbank (2017)**: "The role of banks, non-banks and the central bank in the money creation process"
- **Godley, W., & Lavoie, M. (2012)**: "Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth"

## Related Tutorials
- [Economics Tutorials](../economics-tutorials.qmd) - Step-by-step CircuitJS implementation
- [SFC Modeling](../sfc-modeling.qmd) - Stock-Flow Consistent methodology
- Tutorial 4 specifically covers hands-on implementation of these models

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*This analysis demonstrates that first-principles reasoning, grounded in double-entry bookkeeping, leads to radically different conclusions than reasoning by analogy from households to governments.*

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Originally by Paul Falstad, adapted by Iain Sharp.<br>
Documentation site built with <a href="https://quarto.org">Quarto</a>. 
<a href="https://github.com/johnnewto/circuitjs1">GitHub Repository</a>
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Steve Keen’s Work

Academic Sources

Related Tutorials