The Monetary Theory Of Production

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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.

The Monetary Theory Of Production

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Author : G. Fontana
language : en
Publisher: Springer
Release Date : 2005-04-15

The Monetary Theory Of Production written by G. Fontana and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-04-15 with Business & Economics categories.

This volume examines the theory of monetary circulation and applies it to several modern issues including unemployment, inflation, distribution and economic policies. It will provide a valuable contribution to the field of monetary economics, and in particular, its development of non-neoclassical approaches to monetary economics.

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

Cambridge And The Monetary Theory Of Production

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Author : R. Bigg
language : en
Publisher: Springer
Release Date : 1990-05-22

Cambridge And The Monetary Theory Of Production written by R. Bigg and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-05-22 with Business & Economics categories.

Less than fifty years after the publication of Marshall's Principles Cambridge once again set economics on a new path with the publication of Keynes's General Theory. This book examines the developments in Cambridge monetary and trade cycle theory that were moving it forwards but were also sowing the seeds for the collapse of the Marshallian neoclassical framework. The analysis shows how Cambridge economists such as Keynes, Robertson, Lavington and Hawtrey had built on the foundations of Marshall and Pigou to produce theories of adaptive behaviour which acknowledged that the invisible hand could fail in the short run. This established a conflict with the long run theory of market clearing equilibrium which, though it could be ignored at first, had finally to be resolved.

Monetary Economics

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Author : W. Godley
language : en
Publisher: Springer
Release Date : 2016-04-30

Monetary Economics written by W. Godley and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-30 with History categories.

This book challenges the mainstream paradigm, based on the inter-temporal optimisation of welfare by individual agents. It introduces a methodology for studying how institutions create flows of income, expenditure and production together with stocks of assets and liabilities, thereby determining how whole economies evolve through time.

Price Theory

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Author : Milton Friedman
language : en
Publisher: Walter de Gruyter GmbH & Co KG
Release Date : 2021-03-22

Price Theory written by Milton Friedman 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 2021-03-22 with Business & Economics categories.

No detailed description available for "Price Theory".

The Deficit Myth

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Author : Stephanie Kelton
language : en
Publisher: PublicAffairs
Release Date : 2020-06-09

The Deficit Myth written by Stephanie Kelton and has been published by PublicAffairs this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-09 with Business & Economics categories.

A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society. Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country. Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis. MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.

Monetary Economics

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Author : Wynne Godley
language : en
Publisher: Palgrave MacMillan
Release Date : 2007

Monetary Economics written by Wynne Godley and has been published by Palgrave MacMillan this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Business & Economics categories.

This book challenges the mainstream paradigm, which is based on the inter-temporal optimisation of welfare by individual agents. It introduces a new methodology for studying how it is institutions which create flows of income, expenditure and production together with stocks of assets (including money) and liabilities, thereby determining how whole economies evolve through time. Starting with extremely simple stock flow consistent (SFC) models, the text describes a succession of increasingly complex models. Solutions of these models are used to illustrate ways in which whole economies evolve when shocked in various ways. Readers will be able to download all the models and explore their properties for themselves. A major conclusion is that economies require management via fiscal and monetary policy if full employment without inflation is to be achieved.

A Theory Of Production For The Financial Firm

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Author : Diana Hancock
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06

A Theory Of Production For The Financial Firm written by Diana Hancock 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.

Furthermore, if the effects of regulations on user costs are excluded, it is impossible to analyze monetary policy effects. Chapter 2 examines the principal areas of regulation that affect user costs. For example, reserve requirements, as administered by the Federal Reserve, act as a tax on financial firms so covered. Required reserves earn no return to the financial firm and there is foregone revenue. Deposit insurance increases the user cost of servicing deposits to the banks. Interest rate regulations place limits on interest rates on time de posits, or prohibit payments on demand deposits during part of the period studied. Underlying all these are the open market operations of the Federal Reserve, and their effects on interest rates and the quantities of financial goods. Chapter 2 reveals that previous work on the estimation of bank tech nologies is incomplete, and that the regulations require modelling as a part of the profit maximizing structure. 1.3 User Cost Derivation Chapter 3 discusses the construction of user costs. These are derived for the services from all assets or liabilities on a bank balance sheet or appearing on the income statement. The user cost formulation permits goods to be classified as outputs and inputs. Those with a positive user cost, where expenditures per unit exceed revenues per unit, are inputs. The unit for financial goods such as loans or deposits is one dollar per period. Goods with a negative user cost, with expenditures falling below revenue per unit, are outputs.

A History Of The Theories Of Production And Distribution In English Political Economy From 1776 To 1848

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Author : Edwin Cannan
language : en
Publisher:
Release Date : 1894

A History Of The Theories Of Production And Distribution In English Political Economy From 1776 To 1848 written by Edwin Cannan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1894 with Economics categories.