Money, Markets and Capital: The Case for a Monetary Analysis

ISBN-13: 9780815355779 / Angielski / Twarda / 2018 / 240 str.

Jean Cartelier

Opis

As a result of the 2008 global financial crisis, economists shifted their emphasis from economic policy and social governance to theoretical debates. Economists should reconsider the state of their discipline to avoid taking a step backward and it seems more appropriate than ever to think about the way economic theory has evolved and to check its present day relevance. This book offers an original contribution to this endeavour. It contains a solid critical analysis of the mainstream theory of money, from the vantage point of both internal logical consistency and economic methodology. 

Spis treści

List of Figures; List of Tables; List of Schemas; Introduction; Part I. Money in value theory; Chapter 1: A bird-eye’s view; Chapter 2: Integration of money into value theory and neutrality in a nutshell; The problem of integration; Neutrality of money: the Grail of money theory?; Chapter 3: Money: fiat money or social device for coordination?; The essence of money; The incentives for going beyond academic theory; Part II. The case for a monetary analysis; Chapter 4: Primitives of a monetary analysis; The fundamental postulates; Money and accounts: a close connexion; The minting process, a crucial element of a monetary economy; Chapter 5: A pure market economy: exchange relations; A market economy: main characteristics; Some propositions; The dynamics of market relations; Chapter 6: Entrepreneurs, wage-earners and capitalists; The rationale for the differentiation of entrepreneurs and wage-earners; Specific properties of an entrepreneur economy Erreur ! Signet non défini.; The level of activity: a crucial point; Appendix; Chapter 7: Some specific properties of a capitalist economy; Kalecki principle; Involuntary unemployment steady-states: Solow as a special case of a monetary analysis; Disequilibrium dynamics: Harrod’s razor-edge; From entrepreneur economy to finance; Appendix; Conclusion; Some advances of the present essay; Legal money; Out-of-equilibrium situations; Involuntary unemployment equilibria and foundations for Keynes economics; Economics and the plurality of social disciplines: a suggested interpretation; Money mediation as a self-referential system amongst others; Self-referential systems and complexity; References; Index