Just Money: Banking as if Society Mattered
MIT's 11.405x examines what banks actually do with deposited money and how that intermediary role shapes social, environmental, and economic outcomes. The course centers on so-called just banks, institutions that direct capital and finance toward addressing inequality, climate change, and community development rather than pure profit maximization. Case studies and materials cover alternative banking models, community development finance, and the mechanics of how lending decisions ripple through local economies. Hosted on MIT OpenCourseWare's Open Learning Library, all videos, readings, and assignments are free to access and use without enrolling, though creating an account lets you track progress through the material. The course suits students of economics, finance, or urban planning who want a grounded look at banking's societal function beyond standard profit-driven models, using real institutions as evidence for how finance could work differently.