Classical Versus Neoclassical Monetary Theories

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Classical Versus Neoclassical Monetary Theories

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Author : Will E. Mason
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06

Classical Versus Neoclassical Monetary Theories written by Will E. Mason and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.

Classical Versus Neoclassical Monetary Theories, completed just before Professor Will E. Mason's untimely death, places recent and mid-20th century monetary theory in a larger historical context, while examining the relevance of contemporary questions in monetary policy. The first half of the volume analyzes the development of the methodological and conceptual foundations of monetary theory, up to and including contemporary mainstream views; the second half addresses more policy-oriented monetary questions. Emphasis is placed on the dichotomy of monetary and value theory, the Walrasian general equilibrium paradigm, the resolution of the `Patinkin controversy', the Federal Reserve System's failed experiment with `pure monetarism', and the misplacement of the free market in the `Chicago paradox'. Classical Versus Neoclassical Monetary Theories will be of interest both to historians of economic thought and monetary and macro economists, as well as to many well-informed followers and fashioners of monetary policy.

The Monetary Theory Of Production

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Author : Augusto Graziani
language : en
Publisher: Cambridge University Press
Release Date : 2003-09-04

The Monetary Theory Of Production written by Augusto Graziani and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-09-04 with Business & Economics categories.

In mainstream economic theory money functions as an instrument for the circulation of commodities or for keeping a stock of liquid wealth. In neither case is it considered fundamental to the production of goods or the distribution of income. Augusto Graziani challenges traditional theories of monetary production, arguing that a modern economy based on credit cannot be understood without a focus on the administration of credit flows. He argues that market asset configuration depends not upon consumer preferences and available technologies but on how money and credit are managed. A strong exponent of the circulation theory of monetary production, Graziani presents an original and perhaps controversial argument that will stimulate debate on the topic.

Money And Value

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Author : Jean-Michel Grandmont
language : en
Publisher: Cambridge University Press
Release Date : 1985-09-13

Money And Value written by Jean-Michel Grandmont and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985-09-13 with Business & Economics categories.

This book addresses the controversial issue of whether a competitive monetary economy has built-in price adjustment mechanisms strong enough to remove excess demands and supplies on all markets.

Money As Organization Gustavo Del Vecchio S Theory

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Author : Gianfranco Tusset
language : en
Publisher: Routledge
Release Date : 2015-10-06

Money As Organization Gustavo Del Vecchio S Theory written by Gianfranco Tusset and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-06 with Business & Economics categories.

Between 1909-17, Gustavo Del Vecchio developed a ‘theory of circulation’. In a series of articles he set out his thoughts on the utility and value of money, credit, discount rates, banking and international payments. Tusset re-evaluates Del Vecchio’s theory, concluding that money represents a technology which organizes both economy and society.

Contending Economic Theories

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Author : Richard D. Wolff
language : en
Publisher: MIT Press
Release Date : 2012-09-07

Contending Economic Theories written by Richard D. Wolff and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-09-07 with Business & Economics categories.

A systematic comparison of the 3 major economic theories—neoclassical, Keynesian, and Marxian—showing how they differ and why these differences matter in shaping economic theory and practice. Contending Economic Theories offers a unique comparative treatment of the three main theories in economics as it is taught today: neoclassical, Keynesian, and Marxian. Each is developed and discussed in its own chapter, yet also differentiated from and compared to the other two theories. The authors identify each theory's starting point, its goals and foci, and its internal logic. They connect their comparative theory analysis to the larger policy issues that divide the rival camps of theorists around such central issues as the role government should play in the economy and the class structure of production, stressing the different analytical, policy, and social decisions that flow from each theory's conceptualization of economics. Building on their earlier book Economics: Marxian versus Neoclassical, the authors offer an expanded treatment of Keynesian economics and a comprehensive introduction to Marxian economics, including its class analysis of society. Beyond providing a systematic explanation of the logic and structure of standard neoclassical theory, they analyze recent extensions and developments of that theory around such topics as market imperfections, information economics, new theories of equilibrium, and behavioral economics, considering whether these advances represent new paradigms or merely adjustments to the standard theory. They also explain why economic reasoning has varied among these three approaches throughout the twentieth century, and why this variation continues today—as neoclassical views give way to new Keynesian approaches in the wake of the economic collapse of 2008.

Transforming Modern Macroeconomics

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Author : Roger E. Backhouse
language : en
Publisher: Cambridge University Press
Release Date : 2013

Transforming Modern Macroeconomics written by Roger E. Backhouse and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.

Since the 1950s, macroeconomics has been transformed. This book is about one of the most important aspects of that transformation: the attempt, through the end of the twenty-first century and beyond, to construct macroeconomic models rigorously derived from models of individual firms and households.

Economics

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Author : Xiaokai Yang
language : en
Publisher: Wiley-Blackwell
Release Date : 2001-03-05

Economics written by Xiaokai Yang and has been published by Wiley-Blackwell this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-03-05 with Business & Economics categories.

This innovative text ushers in a new way of examining basic economic issues. It teaches economics from a different standpoint, based on specialization and the division of labor. Resource allocation for a given level of division of labor is shown as not the only determination for demand and supply. Levels of division of labor are shown as a major factors as well.

Modeling Monetary Economies

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Author : Bruce Champ
language : en
Publisher: Cambridge University Press
Release Date : 2001-01-15

Modeling Monetary Economies written by Bruce Champ and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-01-15 with Business & Economics categories.

This upper-level undergraduate textbook, now in its second editon, approaches monetary economics using the classical paradigm of rational agents in a market setting. Too often monetary economics has been taught as a collection of facts about existing institutions for students to memorize. By teaching from first principles, the authors aim to instruct students not only in existing monetary policies and institutions but also in what policies and institutions may or should exist in the future. The text builds on a simple, clear monetary model and applies this framework consistently to a wide variety of monetary questions. The authors have added in this second edition new material on speculative attacks on currencies, social security, currency boards, central banking alternatives, the payments system, and the Lucas model of price surprises. Discussions of many topics have been extended, presentations of data greatly expanded, and new exercises added.

Sraffa And Modern Economics Volume Ii

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Author : Roberto Ciccone
language : en
Publisher: Routledge
Release Date : 2012-03-29

Sraffa And Modern Economics Volume Ii written by Roberto Ciccone and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-29 with Business & Economics categories.

Analyzing Sraffa, one of the key figures in the history of economics, this book explores his legacy and the relevance of his thought for modern economics. Written by an array of internationally respected contributors, including Schefold, Aspromourgos, Nell and Kurz it is an invaluable tool for all those studying the history of economic thought.

The General Theory Of Employment Interest And Money

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Author : John Maynard Keynes
language : en
Publisher: Atlantic Publishers & Dist
Release Date : 2016-04

The General Theory Of Employment Interest And Money written by John Maynard Keynes and has been published by Atlantic Publishers & Dist this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04 with Business & Economics categories.

John Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and * is undoubtedly the century's most important book on economics--strongly influencing economic theory and practice, particularly with regard to the role of government in stimulating and regulating a nation's economic life. Keynes's work has undergone significant revaluation in recent years, and "Keynesian" views which have been widely defended for so long are now perceived as at odds with Keynes's own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes's works, such that recourse to the original text is all the more important. Although considered by a few critics that the sentence structures of the book are quite incomprehensible and almost unbearable to read, the book is an essential reading for all those who desire a basic education in economics. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something could be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and government expenditures as the quickest way to restore full employment. Borrowing the * to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning