Rethinking the Theory of Money, Credit, and Macroeconomics (eBook)

A New Statement for the Twenty-First Century

John Smithin (Autor)

eBook Download: EPUB

2018
258 Seiten
Lexington Books (Verlag)
978-1-4985-4282-1 (ISBN)

Infos

This book is the definitive scholarly work on money, credit and macroeconomics for the twenty-first century. Nine decades ago Keynes claimed to be writing a work that would “largely revolutionize the way the world thinks about economic problems”. This is a modern day attempt with the same purpose.

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This book provides a comprehensive re-working of the basic principles of monetary macroeconomics in an alternative monetary model (AMM) of economic growth, the business cycle, inflation and income distribution. These principles differ considerably from those advanced in the standard macroeconomics literature and in textbooks. However, the latter have been demonstrably unsuccessful in the promotion of usable macroeconomic policy advice for the past several years, actually decades. A different approach is needed. In particular, the new approach takes seriously the vital role of credit creation and endogenous money in capitalism. It does not imagine that all of the difficult questions of economic policy-making may be resolved within a paradigm that conceptualizes economic activity as merely a question of barter exchange. The result is a blueprint for a set of growth-friendly macroeconomic policies which will promote full employment, financial stability and higher real wages essentially for the benefit of the long-suffering middle and working classes rather for the chamber of commerce and financial interests.

Autor

John Smithin is professor emeritus of economics and senior scholar at York University.

Inhalt

1. Methodological Problems in Monetary Macroeconomics2. The Basic Principles of Monetary Macroeconomics in an Alternative Monetary Model3. The Role of Money and Banking in Capitalism4. The Mystery of Profit and the Enigma of Value5. Interest Rates, Liquidity Preference, and Endogenous Money6. Interest, Profit and Wages7. Alternative Approaches to the Theory of Economic Growth8. Alternative Views on Inflation9. The Balance of Payments and Exchange Rates10. A Realist Approach to International Currency and Finance11. Towards a Philosophy of Money and Finance?

Produkt-Details

• Zusatzinfo: 71 Illustrations including: - 37 Tables; - 34 Graphs.
• Verlagsort: Lanham
• Sprache: englisch
• Themenwelt: Sozialwissenschaften ► Pädagogik ► Allgemeines / Lexika
• Themenwelt: Sozialwissenschaften ► Pädagogik ► Bildungstheorie
• Themenwelt: Wirtschaft ► Allgemeines / Lexika
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre
• Schlagworte: Alternative Monetary Model • Credit Creation • Economic Growth • Exchange rates • Full employment • interest rates • Macroeconomics • Method of Enterprise • Money and Credit
• ISBN-10: 1-4985-4282-4 / 1498542824
• ISBN-13: 978-1-4985-4282-1 / 9781498542821