I think Richard Werner's empirical research on how banks create money is probably better than anything put out by the banking system itself, including the central banks.
His work made realize that not even the banking system fully understands the banking system.
(Werner is the economist that coined the term Quantitative Easing, originally created to describe Japanese post-WWII economic re-development monetary policy, research that later informed the US Fed's response to the GFC, among other things)
I think we give far too much credence to term coiners.
I'm unsurprised to see him recommended here, as HN seems to veer heavily towards inflation trutherism, anti-central banking, and libertarianism, even if most commentators probably wouldn't share Werner's antivaxx beliefs.
It wasn't that he coined the term, but that he recognized an important phenomenon and published a description of it before anyone else, which later came to inform major decisions about the worst financial crisis since the Great Depression.
Naming that phenomenon was just a byproduct of recognizing and writing about it, and I mention it only because it implies all of the above.
And his vaxx beliefs aren't relevant to research he did prior to the COVID outbreak, but if you have a specific critique of that research I'd be interested to hear it.
https://www.researchgate.net/publication/265909749_Can_Banks...
https://www.researchgate.net/publication/283907413_Do_banks_...
His work made realize that not even the banking system fully understands the banking system.
(Werner is the economist that coined the term Quantitative Easing, originally created to describe Japanese post-WWII economic re-development monetary policy, research that later informed the US Fed's response to the GFC, among other things)