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Author : L. Randall Wray
Publisher : Edward Elgar Publishing
Page : 0 pages
File Size : 46,9 Mb
Release : 2006
Category : Economic stabilization
ISBN : 1845429419
'Understanding Modern Money' exposes flaws in the foundations of mainstream macroeconomics and suggests a better way to formulate policy that will benefit everyone living in capitalistic societies.
Author : L. Randall Wray
Publisher : Edward Elgar Publishing
Page : 216 pages
File Size : 55,5 Mb
Release : 1998
Category : Economic stabilization
ISBN : UCSC:32106014102765
By showing that the basic assumptions if mainstream macroeconomics were and are flawed, the author aims to convince the reader that full employment and price stability are fully compatible goals in the modern world.
Author : L. Randall Wray
Publisher : Springer
Page : 322 pages
File Size : 51,6 Mb
Release : 2015-09-22
Category : Business & Economics
ISBN : 9781137539922
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 : Leszek Niewdana
Publisher : Routledge
Page : 267 pages
File Size : 43,6 Mb
Release : 2015-02-11
Category : Philosophy
ISBN : 9781317595731
Money has always represented power. For Aristotle, this power was inseparable from the exercise of justice within a community. This is why issuance of money was the prerogative of the lawful authority (government). Such a view of monetary power was widespread, and includes societies as distant as China. Over the past several centuries, however, private interests increasingly tapped into the exercise of the money power. Through gradual shifts, commercial banks have gained a legally protected right to create money through issuance of debts. The aim of this book is to unravel various layers hiding the real workings of modern money and banking systems and injustices ingrained in them. By asking what money really is, who controls it and for what purpose (why), the book provides insight into understanding of modern money and banking systems, as well as the causes of growing financialization of economies throughout the world, money manias and economic instability. The book also increases the awareness of injustices hidden in the workings of modern money and banking systems and the need for moral underpinnings of such systems. Finally, it suggests a money system which could immensely improve human, economic, and ecological conditions.
Author : Stephanie Kelton
Publisher : PublicAffairs
Page : 311 pages
File Size : 49,5 Mb
Release : 2020-06-09
Category : Business & Economics
ISBN : 9781541736207
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 : Robert Murphy
Publisher : Ludwig von Mises Institute
Page : 269 pages
File Size : 46,5 Mb
Release : 2021-12-14
Category : Business & Economics
ISBN : 9781610167444
Understanding Money Mechanics provides the intelligent layperson with a concise yet comprehensive overview of the theory, history, and practice of money and banking, with a focus on the United States. Although the author considers himself an Austrian school economist, most of the material in this book is a neutral presentation of historical facts and an objective description of the mechanics of money creation in today's world. This book is intended to be a reference for all readers, whether "Austrian" or not, and to bridge the gap by providing a crash course in the necessary theory and history while keeping the discussion tethered to current events. Understanding Money Mechanics covers numerous topics, including the classical gold standard, the Fed's open market operations, changes in central bank policy since the coronavirus, the economics of Bitcoin, and a critique of Modern Monetary Theory (MMT).
Author : Nektarios Michail
Publisher : Springer Nature
Page : 257 pages
File Size : 43,8 Mb
Release : 2021-01-25
Category : Business & Economics
ISBN : 9783030643843
While paramount to the modern economy, understanding how the banking system works has been usually cast aside from overall economic education. Even in the aftermath of the recent financial crisis, which has underlined the vital importance of banking in the economy, the workings of the sector remain a black box. To this end, this book provides a comprehensive and easy to read review of the banking sector, covering all issues related to commercial and investment banking and providing experienced as well as non-expert readers the opportunity to expand their knowledge on these topics. After going through the book, readers have the opportunity to gain a deeper knowledge regarding the commercial and investment functions of the banking sector and the ability to evaluate the potential outcome of policy actions.
Author : Cullen Roche
Publisher : St. Martin's Press
Page : 252 pages
File Size : 43,6 Mb
Release : 2014-07-08
Category : Business & Economics
ISBN : 9781137438065
Being successful in the modern world of finance requires a more in-depth understanding of our global economies on a macro level. What does a shifting demographic cycle mean? How does the explosive growth of emerging markets matter? Why does the world's population affect my portfolio? Does the global monetary system impact my results this year? How does government intervention in markets impact my strategy? In Pragmatic Capitalism, Cullen Roche explores how our global economy works and why it is more important now than ever for investors to understand macroeconomics. Cullen Roche combines his expertise in global macro portfolio management, quantitative risk management, behavioral finance, and monetary theory to explain to readers how macroeconomics works, and provides insights and suggestions for getting the most out of their investment strategies. This book will uncover market myths and explain the rise of macroeconomics and why it impacts the readers' portfolio construction. Pragmatic Capitalism is a must for any sophisticated investor who wants to make the most of their portfolio.
Author : Aditya Nain,P. G. Jung
Publisher : Taylor & Francis
Page : 139 pages
File Size : 44,6 Mb
Release : 2021-07-29
Category : Philosophy
ISBN : 9780429535949
This book offers a novel understanding of money by moving away from the dominant lens of economics through which it is usually seen. In contrast to the economic frameworks of "money", the volume examines philosophical discourses on money through conceptual frameworks that explain how monetary value manifests in various empirical monetary systems. It showcases how the increasingly abstract nature of the objects that stand proxy for money could be conceptualized ontologically, highlighting the predominance of digital money today, as well as contemporary monetary innovations such as cryptocurrencies like Bitcoin. Provocative, yet grounded in a sound theoretical framework, this book will be of interest to scholars, students, and teachers interested in money or monetary value, across various domains and disciplines such as philosophy, economics, sociology, anthropology, finance, science, and technology studies, as well as the interested general reader.
Author : L. Randall Wray
Publisher : Springer
Page : 294 pages
File Size : 48,9 Mb
Release : 2016-02-25
Category : Business & Economics
ISBN : 9781137265142
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 : Sergio M. Focardi
Publisher : Routledge
Page : 188 pages
File Size : 47,8 Mb
Release : 2018-03-19
Category : Business & Economics
ISBN : 9781315391045
By enabling the storage and transfer of purchasing power, money facilitates economic transactions and coordinates economic activity. But what is money? How is it generated? Distributed? How does money acquire value and that value change? How does money impact the economy, society? This book explores money as a system of "tokens" that represent the purchasing power of individual agents. It looks at how money developed from debt/credit relationships, barter and coins into a system of gold-backed currencies and bank credit and on to the present system of fiat money, bank credit, near-money and, more recently, digital currencies. The author successively examines how the money circuit has changed over the last 50 years, a period of stagnant wages, increased household borrowing and growing economic complexity, and argues for a new theory of economies as complex systems, coordinated by a banking and financial system. Money: What It Is, How It’s Created, Who Gets It and Why It Matters will be of interest to students of economics and finance theory and anyone wanting a more complete understanding of monetary theory, economics, money and banking.
Author : Heiner Ganßmann
Publisher : Routledge
Page : 291 pages
File Size : 49,7 Mb
Release : 2012-03-12
Category : Business & Economics
ISBN : 9781136820137
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 : Federal Reserve Bank Of Chicago
Publisher : Lulu.com
Page : 46 pages
File Size : 45,9 Mb
Release : 2011-09-03
Category : Electronic
ISBN : 9781105038310
This reprint presents Modern Money Mechanics as it was originally published by the Federal Reserve Bank of Chicago in editions ranging from 1961-1992. The last revision, made in 1992, was most recently published in 1994. As a description of our money system since the time of the creation of the Federal Reserve, hard money advocates, political libertarians and others have found the content of this book damning and used it as part of a general critique of American fiat currency. This booklet has been cited by Gary North, Lew Rockwell, the U.S. and U.K. Libertarian parties and many others. It even features in YouTube videos. As a simplified model for fractional reserve banking, Modern Money Mechanics remains an excellent beginning, one that can be read in a single sitting and one that has the advantage of showing us the Federal Reserve presenting itself and its operations to a broad, mass readership.
Author : Gerald A. Epstein
Publisher : Springer
Page : 100 pages
File Size : 52,5 Mb
Release : 2019-08-09
Category : Political Science
ISBN : 9783030265045
This Palgrave Pivot assesses the validity of Modern Money Theory’s approach to macroeconomic policy, specifically monetary and fiscal policy. Whereas other papers have focused primarily on theoretical and doctrinal issues, this book focuses primarily on an analysis of MMT’s policy approach. Though drawing on academic literature, this book’s approach is empirical and policy-based, making it accessible to scholars and the public alike. It addresses a burning question in the policy and politics of the US and elsewhere where MMT is gaining a policy foothold, especially among progressive activists and politicians: Is MMT, in fact, a good guide for progressive macroeconomic policy? The main focus of this book is to explain why the answer to this question is no.
Author : Andrew Jackson (Economist),Ben Dyson (Economist)
Publisher : Unknown
Page : 334 pages
File Size : 47,9 Mb
Release : 2012-11
Category : Banks and banking
ISBN : 095744480X
As the title suggests, this book explains why the current monetary system is broken, and explains exactly how it can be fixed. The product of three years research and development, these proposals offer one of the few hopes of escaping from our current dysfunctional monetary system.