Steve Keen, one of the few economists to predict the financial crash of 2008, talks of “quantitative easing for the people”.

He says that the government should use the capacity to create money, but that they should give it to the people instead of to the banks.

If you are in debt, he says, you should use the money to pay down the debt. If you are in credit, you should spend it.

Give money to a rich person and they will hoard it in an offshore account, thus withholding it from the economy.

Give it to an ordinary person, on the other hand, and they would spend at least some of it. They would buy a new three-piece suite, or a new kitchen. They would go on holiday. New clothes for the kids. A new hairdo. They would decorate their house or build a garden shed. They would spend what they felt could afford.

Spending money creates jobs which gives more people more money to spend. The money goes round and round and the economy grows.

Positive Money have estimated that of every pound of that £375 billion created by the Bank of England and given to the banks, only 8p went into the real economy.

If, on the other hand, they had given it to us, the people, every pound would have generated £2.80 worth of economic activity and everyone would have been better off.

Isn’t it time we had some new thinking about money?