A handbook of alternative monetary economics

A handbook of alternative monetary economics

A handbook of alternative monetary economics.

Ed. by Philip Arestis and Malcolm Sawyer.

Edward Elgar Publishing


524 pages



Elgar original reference


Although this collection of papers in the heterodox economics of money and finance is rife with disagreement and controversy, according to Arestis (Centre for Economic and Public Policy, U. of Cambridge, UK) and Sawyer (economics, U. of Leeds, UK), there are two major themes that run through the 29 pieces: an attention to endogenous money and the nature of monetary policy when money is endogenous on the one hand and a perception that the financial system is generally subject to volatility, instability, and crisis on the other. Aside from this focus on endogenous money and financial instability, major topics addressed by the contributions include chartalism and the tax-drive approach to money; French and Italian circuit theory; the theory of money emissions; the monetary theories of Keynes, Kalecki, Minsky, and Marx; the theory of interest rates; credit rationing; liquidity preference theory; financial liberalization and the relationship between finance and growth; financial bubbles; Keynesian uncertainty and money; speculation, liquidity preference, and monetary circulation; and a property explanation of interest and money.

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