Description
This book provides the grounding for a new approach to monetary economics, based on the book-keeping nature of money. The main themes of macroeconomics are examined to show how we may improve our understanding through a thorough analysis of their monetary aspects. Money is the key element and its role is investigated in relation to value, prices, p
Table of Contents
Chapter One: Money, Value and Prices The problem; Money and value; Money and relative prices; Money as a pure numerical form; Money, value and absolute prices Chapter Two: Money and Exchange Money and relative exchange; General equilibrium models of monetary economics; A fundamental critique to GEA; Money and absolute exchange Chapter Three: Money, Credit and Banks Money and credit; Money and banks; Credit and banks Chapter Four: Money and Production Production as a circular flow; Production as a one-way process; Production as a process of creation and exchange Chapter Five: Money and Capital Labour, time and capital; The neoclassical approach to capital; Income, capital and time Chapter Six: Money, Capital and Interest Interest, exchange and credit; Interest, income and production; Interest and fixed capital Chapter Seven: Order Versus Disorder The neoclassical approach to economic disorder; The classical analysis of monetary disorder and recession; Keynes' contribution revisited; Unemployment, capital accumulation and interest rates
