Money Has No Value
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Money Has No Value
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Author : Samuel A. Chambers
language : en
Publisher: Walter de Gruyter GmbH & Co KG
Release Date : 2023-10-02
Money Has No Value written by Samuel A. Chambers and has been published by Walter de Gruyter GmbH & Co KG this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-10-02 with Business & Economics categories.
We need a new theory of money. The still-dominant theory of money as taught in intro textbooks is 100+ years old, and for almost that long we have known that it’s totally wrong. The best alternative are "heterodox" accounts developed in the 90s and 00s. These are indeed better overall descriptions of money, but they remain incomplete and inadequate: they rely too much on why the orthodoxy is wrong, thereby incorrectly assuming there is only one alternative (so-called heterodoxy). Money has no value develops a new (more subtle, more sophisticated) theory of money. It takes more seriously than any other work to date, the depth and seriousness of the fundamental claim that all money is credit. Money is not a thing, but a marker of a social relation of credit and debt between two parties. Money is not value itself; no form of money (as money) ever possesses any positive, intrinsic value. Second, the book shows that not only is all money credit, but that in an important theoretical sense, all credit is money to the extent any credit/debt between two parties has the potential to be transferred to another party (thereby functioning as money). Finally, the book links this radical credit theory of money to today’s concrete money practices: this includes global capital flows, national and international monetary policy, and most of all the daily turnover in the money markets. The book therefore develops the needed conceptual framework to ask questions like: what is going on with Bitcoin (much less GameStop) in 2021.
Money Has No Value
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Author : Samuel A. Chambers
language : en
Publisher: Walter de Gruyter GmbH & Co KG
Release Date : 2023-10-04
Money Has No Value written by Samuel A. Chambers and has been published by Walter de Gruyter GmbH & Co KG this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-10-04 with Business & Economics categories.
We need a new theory of money. The still-dominant theory of money as taught in intro textbooks is 100+ years old, and for almost that long we have known that it’s totally wrong. The best alternative are "heterodox" accounts developed in the 90s and 00s. These are indeed better overall descriptions of money, but they remain incomplete and inadequate: they rely too much on why the orthodoxy is wrong, thereby incorrectly assuming there is only one alternative (so-called heterodoxy). Money has no value develops a new (more subtle, more sophisticated) theory of money. It takes more seriously than any other work to date, the depth and seriousness of the fundamental claim that all money is credit. Money is not a thing, but a marker of a social relation of credit and debt between two parties. Money is not value itself; no form of money (as money) ever possesses any positive, intrinsic value. Second, the book shows that not only is all money credit, but that in an important theoretical sense, all credit is money to the extent any credit/debt between two parties has the potential to be transferred to another party (thereby functioning as money). Finally, the book links this radical credit theory of money to today’s concrete money practices: this includes global capital flows, national and international monetary policy, and most of all the daily turnover in the money markets. The book therefore develops the needed conceptual framework to ask questions like: what is going on with Bitcoin (much less GameStop) in 2021.
The Little Book Of The Shrinking Dollar
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Author : Addison Wiggin
language : en
Publisher: John Wiley & Sons
Release Date : 2012-04-11
The Little Book Of The Shrinking Dollar written by Addison Wiggin and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-04-11 with Business & Economics categories.
With the weakening dollar a hot topic for retirees, savers, and investors, this Little Book delves into the economic turmoil in the U.S. and shows how to survive it The United States dollar is losing value at an alarming rate. According to the Organisation for Economic Co-operation and Development (OECD) index, the U.S. currency is 37 percent below fair value against the Australian dollar and 20 percent versus the Canadian dollar. The decline of the U.S. dollar is one of the biggest threats facing American investors today, but with the Little Book of the Shrinking Dollar: What You Can do to Protect Your Money Now in hand, you have the knowledge and the expertise you need to fight back. Written by New York Times bestselling author Addison Wiggin, a leading economic forecaster, the book explores the reasons for the dollar's decline, and its precarious relationship to other currencies around the world. Filled with invaluable strategies for retirees, savers, and investors who want to keep their money safe no matter what lies ahead, the book is your one-stop guide to weathering the storm. Covers strategies for safeguarding your wealth, including safer havens for money, alternative investments, and other opportunities Written by Addison Wiggin, a three-time New York Times bestselling author and leading economic forecaster Wiggin's predictions about the decline of the dollar have proven true time and again, making him the right man for the job when it comes to predicting what lies ahead The U.S. dollar is no longer the secure and stable currency that most Americans grew up believing in. Even after recent gains, the dollar remains weak. But with the Little Book of the Shrinking Dollar you have a concise guide to what's driving its demise and everything you need to protect your money today and in the years to come.
The Value Of Money
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Author : Prabhat Patnaik
language : en
Publisher: Columbia University Press
Release Date : 2009-04-02
The Value Of Money written by Prabhat Patnaik and has been published by Columbia University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-04-02 with History categories.
Why is money more valuable than the paper on which it is printed? Monetarists link the value of money to its supply and demand, believing the latter depends on the total value of the commodities it circulates. According to Prabhat Patnaik, this logic is flawed. In his view, in any nonbarter economy, the value we assign to money is determined independently of its supply and demand. Through an original and provocative critique of monetarism, Patnaik advances a revolutionary understanding of macroeconomics that highlights the "propertyist" position of Karl Marx and John Maynard Keynes. Unlike the usual division between "classical" economists (e.g., David Ricardo and Marx) and the "marginalists" (e.g., Carl Menger, William Stanley Jevons, and Léon Walras), Patnaik places "monetarists," including Ricardo, on one side, while grouping propertyist writers like Marx, Keynes, and Rosa Luxemburg on the other. This second group subscribes to the idea that the value of money is given from outside the realm of supply and demand, therefore making money a form in which wealth is held. The fact that money is held as wealth in turn gives rise to the possibility of deficiency of aggregate demand under capitalism. It is no accident that this possibility was highlighted by Marx and Keynes while going largely unrecognized by Ricardo and contemporary monetarists. At the same time, Patnaik points to a weakness in the Marx-Keynes tradition namely, its lack of any satisfactory explanation of why the value of money, determined from outside the realm of supply and demand, remains relatively stable over long stretches of time. The answer to this question lies in the fact that capitalism is not a self-contained system but is born from a precapitalist setting with which it interacts and where it creates massive labor reserves that, in turn, impart stability to the value of money. Patnaik's theory of money, then, is also a theory of imperialism, and he concludes with a discussion of the contemporary international monetary system, which he terms the "oil-dollar" standard.
You Are The Real Currency In The World
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Author : OBASEMO BOSEDE RUTH
language : en
Publisher: BookRix
Release Date : 2022-06-10
You Are The Real Currency In The World written by OBASEMO BOSEDE RUTH and has been published by BookRix this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-06-10 with Business & Economics categories.
God Almighty has blessed the world before our arrival so that no man in the world would find himself in emptiness. That is why Everything In The World Is A Printed Currency For You. God Almighty blessed everyone on earth with a unique currency, so that no man would be undervalued, dejected or devastated because of money. You got great ideas that print every currency in the world for you, Don't You Know? You must realize this, You Are The Real Currency In The World, every printed currency all over the world is your possession. It's a fact Everything About You Is A Currency All Over The World! Everything you see, everything you know, everything you understand shouts MONEY! If you know what makes The Currency Here, you don't have the Reason to shout there is no money here. No currency in all the countries of the world is highly rated as your knowledge, understanding and wisdom. Don't you know? You are the real currency in the world that can't be under-rated no matter the depletion of your country's currency. BEING POOR is not the reason of your Country's Economic Inflation. It is because you are focused on the paper currency Not On The Essentials that prints the currency you imagine, that is why you shout No Money here. Are you yet to realize these, Without your knowledge, understanding and wisdom, every paper currency you dream of in the world is agony in illusion. Are you unaware? It is true, no money for you if you lack the proper business at this time. It is a fact I won't give you my money if you don't have the value I want. It can't be denied, no money for the dreamer of the day. Only the active in business got the currency all around the world every day! It's great you found this book: YOU ARE THE REAL CURRENCY IN THE WORLD. All the currency in the world is your lot because your business is needed all over the world. You will understand that Your country's currency is not hard to acquire, it's because you don't know how the currency in your country's market is being printed. You see other countries' currencies too far because you don't know how to go around the world's market. There is nothing wrong with you but the lack of information about how your currency can be printed for you right here. Don't you want to know more? EXPLORE THIS BOOK IN DETAIL
Gold Is Real Money
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Author : Louis W. Piacentini
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2016-05-19
Gold Is Real Money written by Louis W. Piacentini and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-19 with categories.
Many people today don't think about gold much. Far less really think about the U.S. dollar. They assume that there is no need. Ignorance is not bliss. In the future, people will wish they had considered the relationship that gold shares with our currency. For most of U.S. history, money was gold. The dollar was backed by gold, and the paper currency that traded hands were backed by gold held in vaults. It was no coincidence that the U.S. enjoyed a great rise to become a superpower in the world. People wanted our money because they recognized that it was good, honest, and sound money backed by gold. There was a reason and an incentive to save money. Other nations gladly accepted our money - in fact, the U.S. Dollar was so trusted and respected that our money became the world's Reserve Currency. This means that other nations would buy dollars and keep them as part of their money reserves, right along with their gold holdings. And why not - our money was as good as gold, because it was representative of gold. Over the years, there were some cracks to our system that developed. Finally, in 1971, gold was totally severed from the U.S. dollar. In that year the whole world changed. Our honest money which was so trusted turned into nothing more than worthless paper. The U.S. government and the big banks publicly told everyone that gold was no longer relevant. This was total hypocrisy, since they clung to their own gold reserves. Since 1971, both the government and the big banks have a love/hate relationship with gold. They hate gold when it is in the public's hands because it represents a threat to their fraudulent paper money system. They secretly love gold when it is in their vaults. You can't have it both ways. If gold is no longer relevant, the governments and largest banks on earth would get rid of their gold holdings. Instead, they maintain their gold holdings and even add to the gold in their vaults. While the governments of the world and big international banks hold tightly to their gold, we now have this paper currency in our lives. We work for it, spend it, save it, and have a belief that it somehow has value. The problem is that it really has no value. It is worth about as much as Monopoly Money with patriotic images. The only thing that gives it any buying power is our collective belief that it is worth something. Worse still, our government lets the privately owned Federal Reserve print as much money as they would like. This causes inflation and the purchasing power of a dollar to go down all the time. We'll examine all of this and how this current mess came to be. We'll look at the players and bad actors in this sorry saga of how our money has been debased from a solid gold backed system to worthless paper currency. We'll also look at what We The People can do about it to protect ourselves. I admit that this book is not light hearted fun reading. But it is essential reading to understand the current mess we are in, and what may come next for our world, our country, and our family.
The Value Of Money
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Author : Benjamin McAlester Anderson
language : en
Publisher: Ludwig von Mises Institute
Release Date : 1917
The Value Of Money written by Benjamin McAlester Anderson and has been published by Ludwig von Mises Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 1917 with Money categories.
Personal Currency
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Author : Roger Colburn
language : en
Publisher: Lionhead Press LLC
Release Date : 2015-12-15
Personal Currency written by Roger Colburn and has been published by Lionhead Press LLC this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-15 with categories.
Money, currency, capital, credit. It has many names but only one use: our tool for exchange. And as important as money is, it's unfortunately not well understood by most people, to their peril. As representative of the actual value of things in the world, money has no value in itself-the value of money is "borrowed" from the potential things that can be purchased with it. And because there is so much in the world, and so many different people, you would think that money would be as diverse and adjustable as the agreements we make with one another every day. But it's not. Government currencies like the dollar and the euro are one-dimensional, outdated vehicles for wealth. There's so much more potential inherent within the concept of currency, and many are waking up to it. Change is coming to money, and fast. New tools like Bitcoin show us that technology can change the way we think about money. With amazing new ideas and conventions are new questions, like: What is value? What is wealth? Are these things fully captured by modern money, or could it be better? What if everyone had a currency? What if they already do? Welcome to the future of money.
The Value Of Money
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Author : Benjamin McAlester Anderson
language : en
Publisher:
Release Date : 2023-05-24
The Value Of Money written by Benjamin McAlester Anderson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-05-24 with categories.
Benjamin Anderson, American Austrian, was among a handful of economists, led by Ludwig von Mises in his pioneering work The Theory of Money and Credit in 1912, who set out to integrate monetary theory into a general theory of value. Anderson devoted a major portion of his great book The Value of Money, published in 1917, to a refutation of the "mechanical" quantity theory of money. He argued that the causes and effects from which the data of the quantity equation are constructed are disaggregated and complex; whatever the correlation between the aggregate variables of the quantity equation, correlation is not causation; causation cannot be established in the equation because there are no quantitative constants in human action (in particular, velocity is not constant); the quantity theory ignores time; there is no unambiguous way to define the variables in the theory: the money stock, velocity, the quantity of goods, and the price level. Anderson further holds that whatever true propositions the quantity theory offers can as well be deduced from a correct theory of value and that many true theories of modern economics (such as the laws of demand and supply, the theory of capitalization, and Gresham's law) are inconsistent with it. Although some true propositions can be had from the quantity theory, not every conclusion derived from it is true. Anderson expended much effort to demonstrate that many theories constructed upon it are false. For example, he argued that the independence between the stock of money and the quantity of goods, assumed for the purpose of reaching the conclusion that increases in the stock of money lead to proportional increases in the price level, if carried into macroeconomics has pernicious effects.
The Value Of Money
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Author : Benjamin M Anderson
language : en
Publisher:
Release Date : 2023-08-05
The Value Of Money written by Benjamin M Anderson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-05 with Business & Economics categories.
Benjamin Anderson, American Austrian, was among a handful of economists, led by Ludwig von Mises in his pioneering work The Theory of Money and Credit in 1912, who set out to integrate monetary theory into a general theory of value. Anderson devoted a major portion of his great book The Value of Money, published in 1917, to a refutation of the "mechanical" quantity theory of money. He argued that the causes and effects from which the data of the quantity equation are constructed are disaggregated and complex; whatever the correlation between the aggregate variables of the quantity equation, correlation is not causation; causation cannot be established in the equation because there are no quantitative constants in human action (in particular, velocity is not constant); the quantity theory ignores time; there is no unambiguous way to define the variables in the theory: the money stock, velocity, the quantity of goods, and the price level. Anderson further holds that whatever true propositions the quantity theory offers can as well be deduced from a correct theory of value and that many true theories of modern economics (such as the laws of demand and supply, the theory of capitalization, and Gresham's law) are inconsistent with it. Although some true propositions can be had from the quantity theory, not every conclusion derived from it is true. Anderson expended much effort to demonstrate that many theories constructed upon it are false. For example, he argued that the independence between the stock of money and the quantity of goods, assumed for the purpose of reaching the conclusion that increases in the stock of money lead to proportional increases in the price level, if carried into macroeconomics has pernicious effects.