Modern Theories of Money: The Nature and Role of Money in Capitalist EconomiesLouis-Philippe Rochon, Sergio Rossi '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 intere |
Contents
| 3 | |
| 18 | |
An Endogenous Money Perspective | 41 |
The Case for AssetBased Reserve Requirements | 67 |
5 Seigniorage or Sovereignty? | 84 |
6 Asymmetric Information Credit Rationing and the Stiglitz and Weiss Model | 103 |
THE THEORY OF THE MONETARY CIRCUIT | 113 |
Post Keynesian and Circulation Approaches | 115 |
13 An Internal Critique of General Equilibrium Theory | 265 |
A Final Rejection | 295 |
15 Circuit Theory as an Explanation of the Complex Real World | 322 |
16 Money and Banking in a Monetary Theory of Production | 339 |
17 On the Macroeconomic Foundations of the WagePrice Relationship | 360 |
18 Involuntary Unemployment and Investment | 384 |
FURTHER CONTRIBUTIONS TO MONETARY ANALYSIS | 409 |
Notes on the Monetary Theory of Production | 411 |
8 Thinking of the Economy as a Circuit Biagio Bossone1 | 142 |
Some Preliminary Evidence | 173 |
Rereading Marxian Monetary Theory | 198 |
11 How Heterodox is the Heterodoxy of Monetary Circuit Theory? The Nature of Money and the Microeconomics of the Circuit | 219 |
An Alternative Interpretation | 246 |
THE THEORY OF MONEY EMISSIONS | 263 |
Minsky as a Post Keynesian Hayekian | 475 |
21 A Primer on Endogenous CreditMoney | 506 |
22 The Gold Standard and CentrePeriphery Interactions | 544 |
| 561 | |
| 567 | |
Common terms and phrases
ABRR agents aggregate Albeuve analysis approach Arestis argues bank deposits banking system banknotes behaviour borrowers Bortis capital Cencini central bank Cheltenham and Northampton circuitists circulation commodity consumption currency debt Deleplace demand for money determined Edward Elgar effective demand employment endogenous money equations equilibrium ex ante exchange rate existence fiat money financial intermediaries firms framework function funds Graziani horizontalists households ibid interest rate investment IS-LM issue John Maynard Keynes Journal of Economics Journal of Post Keynes Keynes's labour Lavoie liabilities liquidity preference loans Macmillan macroeconomic Marx means of payment Minsky monetary circuit monetary economy monetary policy monetary production economy monetary theory money supply neoclassical non-bank output Parguez Political Economy Post Keynesian Economics principle purchasing power quantity rate of interest relative price Rochon role saving Schmitt Seccareccia sector seigniorage Smithin social store of wealth theory of money uncertainty unit wages
Popular passages
Page 7 - it is a recognized characteristic of money as a store of wealth that it is barren; whereas practically every other form of storing wealth yields some interest or profit. Why should anyone outside a lunatic asylum wish to use money as a store of wealth?
Page 14 - Unemployment develops.., because people want the moon; — men cannot be employed when the object of desire (ie money) is something which cannot be produced and the demand for which cannot be readily choked off