Karl Marx's theories on centralizing credit do have some relevance to the current central banking system. Marx argued that the power of money should be centralized in the hands of the state, as this would enable the state to control the supply of money and credit, and therefore control the economy. This idea has been adopted by many modern central banks, who use their control over the money supply to influence economic activity. For example, central banks can use monetary policy to manage inflation, control the money supply, and encourage economic growth.
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