Modern Theories Of Money

Author : Louis-Philippe Rochon,Sergio Rossi
Publisher : Edward Elgar Publishing
Page : 0 pages
File Size : 41,9 Mb
Release : 2003
Category : Capitalism
ISBN : 1840647892

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Modern Theories of Money by Louis-Philippe Rochon,Sergio Rossi Pdf

This book unites diverse heterodox traditions in the study of endogenous money - which until now have been confined to their own academic quarters - and explores their similarities and differences from both sides of the Atlantic. Bringing together perspectives from post-Keynesians, Circuitists and the Dijon School, the book continues the tradition of Keynes's and Kalecki's analysis of a monetary production economy, emphasising the similarities between the various approaches, and expanding the analytical breadth of the theory of endogenous money. The authors open new avenues for monetary research in order to fuel a renewed interest in the nature and role of money in capitalist economies, which is, the authors argue, one of the most controversial, and therefore fascinating, areas of economics. Providing new theoretical and empirical grounds for the construction of a general, policy oriented theory of money, this thought-provoking collection will appeal to academics, researchers and students interested in monetary economics. It will also be welcomed by monetary policymakers and central bank officials.

Author : L. Randall Wray
Publisher : Springer
Page : 322 pages
File Size : 52,7 Mb
Release : 2015-09-22
Category : Business & Economics
ISBN : 9781137539922

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Modern Money Theory by L. Randall Wray Pdf

This second edition explores how money 'works' in the modern economy and synthesises the key principles of Modern Money Theory, exploring macro accounting, currency regimes and exchange rates in both the USA and developing nations.

Author : Louis-Philippe Rochon,Sergio Rossi
Publisher : Edward Elgar Publishing
Page : 652 pages
File Size : 49,9 Mb
Release : 2003-01-01
Category : Business & Economics
ISBN : 1781008418

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Modern Theories of Money by Louis-Philippe Rochon,Sergio Rossi Pdf

'This is a timely book. Being on modern theories of money - essentially the study of traditions of endogenous money - it is a welcome contribution to current thinking on monetary policy. The modern central bank view on money is that the rate of interest should be manipulated by central banks to achieve an inflation target with the money supply being the "residual". Although money is in effect endogenous, there is no theory that explains its behaviour. Modern Theories of Money is a serious attempt to sharpen existing views on the issue and fill gaps in an admirable manner.' - Philip Arestis, University of Cambridge, UK and Levy Economics Institute, US This book unites diverse heterodox traditions in the study of endogenous money - which until now have been confined to their own academic quarters - and explores their similarities and differences from both sides of the Atlantic. Bringing together perspectives from post-Keynesians, Circuitists and the Dijon School, the book continues the tradition of Keynes's and Kalecki's analysis of a monetary production economy, emphasising the similarities between the various approaches, and expanding the analytical breadth of the theory of endogenous money. The authors open new avenues for monetary research in order to fuel a renewed interest in the nature and role of money in capitalist economies, which is, the authors argue, one of the most controversial, and therefore fascinating, areas of economics.

Author : M.L. Burstein
Publisher : Springer
Page : 223 pages
File Size : 53,9 Mb
Release : 1986-01-28
Category : Business & Economics
ISBN : 9781349180707

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Modern Monetary Theory by M.L. Burstein Pdf

Innovations in financial markets and in financial management, together with dramatic innovations in the substance and technique of monetary theory, have made it necessary to restate the theory of money and the theory of monetary policy. In order to provide a new monetary theory, the author treats fully the following material: choice of currency and the theory of convertibility; interest on money; speculation and rational expectations; implications of electronic-transfer settlement procedures for monetary theory, as well as other matters. The theories of Tobin are developed and exposited in detail, as is the work of Friedman.

Author : Stephanie Kelton
Publisher : PublicAffairs
Page : 311 pages
File Size : 42,8 Mb
Release : 2020-06-09
Category : Business & Economics
ISBN : 9781541736207

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The Deficit Myth by Stephanie Kelton Pdf

A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society. Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country. Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis. MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.

Author : Carl E. Walsh
Publisher : MIT Press
Page : 636 pages
File Size : 46,6 Mb
Release : 2003
Category : Business & Economics
ISBN : 0262232316

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Monetary Theory and Policy by Carl E. Walsh Pdf

An overview of recent theoretical and policy-related developments in monetary economics.

Author : F. Moseley
Publisher : Springer
Page : 242 pages
File Size : 44,6 Mb
Release : 2004-12-07
Category : Business & Economics
ISBN : 9780230523999

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Marx’s Theory of Money by F. Moseley Pdf

This book provides a contemporary assessment of Marx's theory of money. This theory is often praised as one of Marx's greatest achievements, especially when compared with either classical or neoclassical economics. On the other hand, Marx's theory of money has also been severely criticized, especially that it seems to require that money be a produced commodity. The contributors to the volume provide a wide-ranging and in-depth appraisal of the strengths and weaknesses of Marx's theory of money, compared to other theories of money.

Author : L. Randall Wray
Publisher : Springer
Page : 294 pages
File Size : 50,7 Mb
Release : 2016-02-25
Category : Business & Economics
ISBN : 9781137265142

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Modern Money Theory by L. Randall Wray Pdf

In a challenge to conventional views on modern monetary and fiscal policy, this book presents a coherent analysis of how money is created, how it functions in global exchange rate regimes, and how the mystification of the nature of money has constrained governments, and prevented states from acting in the public interest.

Author : John Maynard Keynes
Publisher : Springer
Page : 404 pages
File Size : 54,8 Mb
Release : 2018-07-20
Category : Business & Economics
ISBN : 9783319703442

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The General Theory of Employment, Interest, and Money by John Maynard Keynes Pdf

This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.

Author : Meyer Louis Burstein
Publisher : New York : St. Martin's Press
Page : 211 pages
File Size : 46,5 Mb
Release : 1986
Category : Money
ISBN : 0312541082

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Modern Monetary Theory by Meyer Louis Burstein Pdf

Author : Heiner Ganßmann
Publisher : Routledge
Page : 291 pages
File Size : 55,8 Mb
Release : 2012-03-12
Category : Business & Economics
ISBN : 9781136820137

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New Approaches to Monetary Theory by Heiner Ganßmann Pdf

Everybody uses money every day, but we rarely stop to think about how money works. In this book, scholars from different disciplines seek to answer that question; from historians to economists, sociologists, a philosopher and a physicist. Money works as a social construction because we have mutual expectations that support its use – despite the seeming irrationality of trading valuable things or doing strenuous work for pieces of paper or numbers in accounts. Recently, there has been a revival of interest in monetary theory, not least because the impacts of globalizing markets and of new communication and information technologies have changed the forms of money. The deep crisis of the financial system has demonstrated the importance of a functioning monetary system and although renewed interest in this has led to significant contributions in various fields, it remains true that no social science discipline on its own is sufficiently equipped to explain the basic workings of monetary systems, their rapid innovation and their effects on social, economic and political structures. The contributors to this book report on their latest research on the origins of money, on the nature of monetary transactions, on money and the state, and on the role of money and finance in the recent global crisis. They show how established theories of money and the policies guided by these theories went wrong. This collection will be a valuable resource for students and researchers seeking a deeper understanding of money.

Author : Nico Stehr,Dustin Voss
Publisher : Routledge
Page : 342 pages
File Size : 40,5 Mb
Release : 2019-10-08
Category : Business & Economics
ISBN : 9781000690729

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Money by Nico Stehr,Dustin Voss Pdf

Since the publication of Georg Simmel’s Philosophy of Money more than a century ago, social science has primarily considered money a medium of exchange. This new book treats money as a more inclusive social concept that has profoundly influenced the emergence of modern society. Money is also a moral and political category. It communicates prices and thus embodies innumerable evaluations and judgments of objects and services, of social relationships and associations. At the same time, modern societies are undergoing fundamental transformations in which money assumes an ever-important role, while banking and financial services constitute the new primary sector of modern service economies. In this book, the authors trace the transformational scope of monetarization and financialization along the four classical productive forces—land, capital, labor, and knowledge—and evaluate the consequences of an irrepressible urge to quantify and monetarize almost everything social. What happens to a society in which the tangible products of the real economy lose their preeminent status, and everything is judged purely according to its economic value? The authors identify an increasing disconnect between market prices and social values with serious social, political, economic, and environmental consequences.

Author : Dirk H. Ehnts
Publisher : Routledge
Page : 239 pages
File Size : 40,7 Mb
Release : 2016-10-14
Category : Business & Economics
ISBN : 9781317224792

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Modern Monetary Theory and European Macroeconomics by Dirk H. Ehnts Pdf

This book provides a new methodological approach to money and macroeconomics. Realizing that the abstract equilibrium models lacked descriptions of fundamental issues of a modern monetary economy, the focus of this book lies on the (stylized) balance sheets of the main actors. Money, after all, is born on the balance sheets of the central bank or commercial bank. While households and firms hold accounts at banks with deposits, banks hold an account at the central bank where deposits are called reserves. The book aims to explain how the two monetary circuits – central bank deposits and bank deposits – are intertwined. It is also shown how government spending injects money into the economy. Modern Monetary Theory and European Macroeconomics covers both the general case and then the Eurozone specifically. A very simple macroeconomic model follows which explains the major accounting identities of macroeconomics. Using this new methodology, the Eurozone crisis is examined from a fresh perspective. It turns out that not government debt but the stagnation of private sector debt was the major economic problem and that cuts in government spending worsened the economic situation. The concluding chapters discuss what a solution to the current problems of the Eurozone must look like, with scenarios that examine a future with and without a euro. This book provides a detailed balance sheet view of monetary and fiscal operations, with a focus on the Eurozone economy. Students, policy-makers and financial market actors will learn to assess the institutional processes that underpin a modern monetary economy, in times of boom and in times of bust.

Author : Geoffrey Ingham
Publisher : John Wiley & Sons
Page : 112 pages
File Size : 45,8 Mb
Release : 2020-01-08
Category : Political Science
ISBN : 9781509526857

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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.

Author : L. Randall Wray
Publisher : Edward Elgar Publishing
Page : 296 pages
File Size : 41,5 Mb
Release : 2004-01-01
Category : Business & Economics
ISBN : 1843769840

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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.