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商品詳細
The Creators of Inside Money: A New Monetary Theory. Softcover Reprint of the Original 1st 2018 ed.
・ISBN 978-3-030-07976-5 paper EUR 64.99
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| 著者・編者 | Thomas, D. Gareth, |
|---|---|
| 出版社 | (Springer Nature Switzerland AG, SZ) |
| 出版年月 | 2019 |
| ページ数 | 167 pp. |
| 言語 | ENG |
| ニュース番号 | ＜A03-95324＞ |
解説
The book explores the endogenous creators of inside money, the commercial banks, and their key role in igniting the 2007-8 monetary crisis and the aftermath of the Great Recession. This is an area of study overlooked by the traditional approach in the form of neo-classical analysis, a body of theory based on a barter system of exchange. Money has evolved from a construct of barter to become a medium of exchange based on fiat money and loan creation by the banking system, underpinned by legal tender, and therefore, a creature of law. It is not a phenomenon exogenously controlled by the monetary authorities and simply assumed to be a "veil" over the real economy, which just determines the absolute price level.
This monograph, in the eyes of the student, represents critical thinking and the realization of a more precise formulation of the endogenous money supply with various features systematically added in an attempt to derive a fully dynamic model of the monetary system, which will be straightforward to visualize and contrast with the benchmark approach.