Money and the Economic ProcessIn this important new book, Sheila Dow argues that money is integral to the economic process and that some common principles may be applied when analysing money's role at the regional, national and international levels. The importance of considering the spatial aspects of money's role has been highlighted by recent developments in Europe and elsewhere. Using a post Keynesian perspective, the first five chapters put forward a methodological and theoretical framework for a theory of money which combines endogenous credit creation and liquidity preference. The next five chapters analyse money's role in the economic process as it affects regional economies. The final two chapters adapt the theory in order to analyse finance and development in the international context, and as a basis for discussing possible international institutional reforms. Money and the Economic Process features some of Sheila Dow's most acclaimed articles and papers in this area, as well as including some new work which reveals the recent development of her thought. |
From inside the book
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... SPECULATION : SOME TEXTUAL AND DEFINITIONAL ANALYSIS What emerges from an exploration of both Marx's and Keynes ' writing is that bank credit creation ( as opposed to trade credit ) is inherently speculative . Borrowers are speculating ...
... speculative trading is a speculative bubble which may erode confidence in the entire financial system . Experience of this fact has led to a set of prudential controls on domestic banking system which place some limitations on credit ...
... speculative activity by the banks themselves . The greater the opportunity for monetary accumulation in the markets ... speculative boom can thus be represented by a monetary circuit M - M ' , which altogether by - passes productive ...
Contents
Methodology and the Analysis of a Monetary Economy | 5 |
Money Supply Endogeneity | 21 |
The meaning of endogeneity within a theoretical | 27 |
Copyright | |
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