Economic Theory Of Bank Credit

Author : L. Albert Hahn
Publisher : Oxford University Press
Page : 160 pages
File Size : 51,6 Mb
Release : 2015-10-08
Category : Business & Economics
ISBN : 9780191034756

Get Book

Economic Theory of Bank Credit by L. Albert Hahn Pdf

L. Albert Hahn published the first edition of the Economic Theory of Bank Credit in 1920 and a radically revised third edition in 1930. Economic Theory of Bank Credit is a clear exposition of a theory of credit and stands in the tradition of Harley Withers, Henry Macleod, and Knut Wicksell. A theory of credit recognizes that banks are not only intermediaries of savings but in fact create money themselves. This idea is paired with a detailed account of the technical processes of the banking sector. In Part Two, Hahn provides an economic account of the effects of credit creation on the economy: banks vary their credit creation activity for various reasons and cause fluctuations in overall economic activity. Hahn therefore develops a monetary theory of the business cycle in the spirit of Schumpeter. The first and third editions draw different conclusions about central bank policy. The first edition is optimistic that an ever-lasting boom could be achieved, whilst the third edition sees the core function of central bank policy as smoothing economic fluctuations. This edition, translated into English for the first time, enables the reader to revisit this classic contribution to monetary theory. It features a complete translation of the first edition, key elements of the third edition, and a new introduction by Professor Harald Hagemann.

Author : L. Albert Hahn
Publisher : Unknown
Page : 195 pages
File Size : 41,5 Mb
Release : 2015
Category : Banks and banking
ISBN : 019178964X

Get Book

Economic Theory of Bank Credit by L. Albert Hahn Pdf

'Economic Theory of Bank Credit' is a clear exposition of a theory of credit, standing in the tradition of Harley Withers, Henry Macleod, and Knut Wicksell. A theory of credit recognises that banks are not only intermediaries of savings but in fact create money themselves. This idea is paired with a detailed accountof the technical processes of the banking sector.

Author : Jesús Huerta de Soto
Publisher : Ludwig von Mises Institute
Page : 938 pages
File Size : 53,5 Mb
Release : 2006
Category : Banks and banking
ISBN : 9781610163880

Get Book

Money, Bank Credit, and Economic Cycles by Jesús Huerta de Soto Pdf

Author : Ludwig Von Mises
Publisher : Ludwig von Mises Institute
Page : 507 pages
File Size : 55,8 Mb
Release : 1953
Category : Credit
ISBN : 9781610163224

Get Book

The Theory of Money and Credit by Ludwig Von Mises Pdf

Author : L. Randall Wray
Publisher : Edward Elgar Publishing
Page : 296 pages
File Size : 53,5 Mb
Release : 2004-01-01
Category : Business & Economics
ISBN : 1843769840

Get Book

Credit and State Theories of Money by L. Randall Wray Pdf

In 1913 and 1914, A. Mitchell Innes published a pair of articles that stand as two of the best pieces written in the twentieth century on the nature of money. Only recently rediscovered, these articles are reprinted and analyzed here for the first time.

Author : Henry Dunning Macleod
Publisher : Unknown
Page : 404 pages
File Size : 41,8 Mb
Release : 1894
Category : Banks and banking
ISBN : PRNC:32101055789455

Get Book

The Theory of Credit by Henry Dunning Macleod Pdf

Author : Jesús Huerta de Soto
Publisher : Ludwig von Mises Institute
Page : 939 pages
File Size : 55,6 Mb
Release : 2009
Category : Business & Economics
ISBN : 9781933550398

Get Book

Money, Bank Credit, and Economic Cycles by Jesús Huerta de Soto Pdf

Can the market fully manage the money and banking sector? Jesus Huerta de Soto, professor of economics at the Universidad Rey Juan Carlos, Madrid, has made history with this mammoth and exciting treatise that it has and can again, without inflation, without business cycles, and without the economic instability that has characterised the age of government control. Such a book as this comes along only once every several generations: a complete comprehensive treatise on economic theory. It is sweeping, revolutionary, and devastating -- not only the most extended elucidation of Austrian business cycle theory to ever appear in print but also a decisive vindication of the Misesian-Rothbardian perspective on money, banking, and the law. The author has said that this is the most significant work on money and banking to appear since 1912, when Mises's own book was published and changed the way all economists thought about the subject. Its five main contributions: A wholesale reconstruction of the legal framework for money and banking, from the ancient world to modern times; An application of law-and-economics logic to banking that links microeconomic analysis to macroeconomic phenomena; A comprehensive critique of fractional-reserve banking from the point of view of history, theory, and policy; An application of the Austrian critique of socialism to central banking; The most comprehensive look at banking enterprise from the point of view of market-based entrepreneurship. Those are the main points but, in fact, this only scratches the surface. Indeed, it would be difficult to overestimate the importance of this book. De Soto provides also a defence of the Austrian perspective on business cycles against every other theory, defends the 100% reserve perspective from the point of view of Roman and British law, takes on the most important objections to full reserve theory, and presents a full policy program for radical reform. It could take a decade for the full implications of this book to be absorbed but this much is clear: all serious students of these subject matters will have to master this treatise.

Author : Ludwig von Mises
Publisher : Simon and Schuster
Page : 460 pages
File Size : 41,8 Mb
Release : 2013-08-01
Category : Business & Economics
ISBN : 9781626365223

Get Book

The Theory of Money and Credit by Ludwig von Mises Pdf

“It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments.” – from The Theory of Money and Credit Originally published in 1912, Ludwig von Mises’s The Theory of Money and Credit remains today one of economic theory’s most influential and controversial treatises. Von Mises’s examination into monetary theory changed forever the world of economic thought when he successfully integrated “macroeconomics” into “microeconomics” —previously deemed an impossible task —as well as offering explanations into the origin, value and future of money. One hundred years later, von Mises and the Austrian school of economic theory are still fiercely debated by world economists in their search for the solution to America’s current financial crisis. His theorems continue to inspire politicians and market experts who aim to raise up the common man and reduce the financial power of governments. In a preface added in 1952, von Mises urges the people of the world to see economic truth: “The great inflations of our age are not acts of God. They are man-made or, to say it bluntly, government-made. They are the off-shoots of doctrines that ascribe to governments the magic power of creating wealth out of nothing and of making people happy by raising the ‘national income.’” “The best book on money ever written.” —Murray Rothbard, economist and historian “The greatest economist of the twentieth century.” —Sandeep Jaitly, economist

Author : Charles Rist
Publisher : Routledge
Page : 571 pages
File Size : 52,5 Mb
Release : 2016-11-10
Category : Business & Economics
ISBN : 9781315440941

Get Book

History of Monetary and Credit Theory by Charles Rist Pdf

Originally published in 1940, this book traces the development of theories concerning currency and credit from the beginning of the eighteenth century to the middle of the twentieth. It provides a comprehensive account of the political and economic conditions in which the theories and controversies arose, with the result that the work has become a classic in its field.

Author : Liang Wang,Randall Wright,Lucy Qian Liu
Publisher : International Monetary Fund
Page : 54 pages
File Size : 46,6 Mb
Release : 2017-01-27
Category : Business & Economics
ISBN : 9781475572339

Get Book

Money and Credit by Liang Wang,Randall Wright,Lucy Qian Liu Pdf

We develop a theory of money and credit as competing payment instruments, then put it to work in applications. Buyers can use cash or credit, with the former (latter) subject to the inflation tax (transaction costs). Frictions that make the choice of payment method interesting also imply equilibrium price dispersion. We deliver closed-form solutions for money demand. We then show the model can simultaneously account for the price-change facts, cash-credit shares in micro payment data, and money-interest correlations in macro data. We analyze the effects of inflation on welfare, price dispersion and markups. We also describe nonstationary equilibria as self-fulfilling prophecies, which is standard, except here it entails dynamics in the price distribution.

Author : L. Randall Wray
Publisher : Edward Elgar Publishing
Page : 360 pages
File Size : 41,9 Mb
Release : 1990
Category : Business & Economics
ISBN : UOM:39015018998644

Get Book

Money and Credit in Capitalist Economies by L. Randall Wray Pdf

This widely acclaimed book argues that money is not the product of a simple deposit multiplier process. The impressive analysis includes discussions of the origins and nature of money and of the evolution of monetary institutions and theory. Unlike other recent works on 'endogenous money', this book incorporates liquidity preference theory within the analysis by carefully distinguishing money from liquidity and by showing how money, but not liquidity, is created on demand. This naturally leads to a role for liquidity preference in the determination of interest rates. Extensions then link money to financial instability, the expenditure multiplier, credit, saving, investment, development, deficits and growth. This controversial and provocative book will be essential reading for all economists and researchers concerned with monetary and macroeconomics. It will have particular appeal to post Keynesian economists.

Author : Jan Toporowski
Publisher : Edward Elgar Publishing
Page : 192 pages
File Size : 50,7 Mb
Release : 2020-09-25
Category : Business & Economics
ISBN : 9781788972154

Get Book

Credit and Crisis from Marx to Minsky by Jan Toporowski Pdf

This timely book studies the economic theories of credit cycles and disturbances in the 20th century, presenting a nuanced view of the role of finance in the economy after the financial crash of 2008. Focusing on the work of economists from Marx onwards, Jan Toporowski moves beyond conventional monetary theory to offer an insightful critical alternative to current financial macroeconomics.

Author : Augusto Graziani
Publisher : Cambridge University Press
Page : 190 pages
File Size : 51,7 Mb
Release : 2003-09-04
Category : Business & Economics
ISBN : 9781139438001

Get Book

The Monetary Theory of Production by Augusto Graziani Pdf

In mainstream economic theory money functions as an instrument for the circulation of commodities or for keeping a stock of liquid wealth. In neither case is it considered fundamental to the production of goods or the distribution of income. Augusto Graziani challenges traditional theories of monetary production, arguing that a modern economy based on credit cannot be understood without a focus on the administration of credit flows. He argues that market asset configuration depends not upon consumer preferences and available technologies but on how money and credit are managed. A strong exponent of the circulation theory of monetary production, Graziani presents an original and perhaps controversial argument that will stimulate debate on the topic.

Author : Riccardo Realfonzo
Publisher : Edward Elgar Publishing
Page : 216 pages
File Size : 50,7 Mb
Release : 1998
Category : Business & Economics
ISBN : STANFORD:36105023470219

Get Book

Money and Banking by Riccardo Realfonzo Pdf

Provides an original interpretation of the debate on banking and the nature of money in Keynes' time from a post-Keynesian point of view. Realfonzo (economics, U. of Naples) traces the pre- history of monetary circuit theory and its challenge to mainstream analysis in the first four decades of the century, contrasting the neoclassical approach with the monetary theory of production. He examines the contributions of both well-known and relatively neglected authors to the debate on the nature of money and function of the banks. Each chapter concludes with extensive notes. Annotation copyrighted by Book News, Inc., Portland, OR

Author : Geoffrey Ingham
Publisher : John Wiley & Sons
Page : 112 pages
File Size : 44,9 Mb
Release : 2020-01-08
Category : Political Science
ISBN : 9781509526857

Get Book

Money by Geoffrey Ingham Pdf

Few economic phenomena provoke as much confusion as money. From the first measures of value and the physical coins that circulated at the dawn human civilization to the era of ‘virtual’ money transmitted through cyberspace, it is ubiquitous and hugely important, yet economists cannot even agree on what it is. In this pithy, accessible book, Geoffrey Ingham cuts through this tangled web of debate to bring rare clarity. Ingham begins by examining the fundamental debate over the nature of money: is it fundamentally a natural, ‘neutral’ measure of pre-existing value produced by ‘real’ economic forces? Or is it a socially produced and politically manipulated force that creates new value? He proceeds to trace the import of these competing views for how we understand our contemporary monetary systems and their practical and policy-related implications, from their role in financial crises to proposals for reform. Students of political economy, economic sociology and monetary economics will find this book an invaluable primer, as will general readers wishing to understand how money shapes their lives, from the cash in their pocket to the numbers on their computer screen.