Money and Credit in Capitalist Economies

Money and Credit in Capitalist Economies
Author: L. Randall Wray
Publisher: Edward Elgar Publishing
Total Pages: 360
Release: 1990
Genre: Capitalism
ISBN:

This widely acclaimed book argues that money is not the product of a simple deposit multiplier process. The impressive analysis includes discussions of the origins and nature of money and of the evolution of monetary institutions and theory. Unlike other recent works on 'endogenous money', this book incorporates liquidity preference theory within the analysis by carefully distinguishing money from liquidity and by showing how money, but not liquidity, is created on demand. This naturally leads to a role for liquidity preference in the determination of interest rates. Extensions then link money to financial instability, the expenditure multiplier, credit, saving, investment, development, deficits and growth. This controversial and provocative book will be essential reading for all economists and researchers concerned with monetary and macroeconomics. It will have particular appeal to post Keynesian economists.

Credit and Crisis from Marx to Minsky

Credit and Crisis from Marx to Minsky
Author: Jan Toporowski
Publisher: Edward Elgar Publishing
Total Pages: 192
Release: 2020-09-25
Genre: Business & Economics
ISBN: 1788972155

This timely book studies the economic theories of credit cycles and disturbances in the 20th century, presenting a nuanced view of the role of finance in the economy after the financial crash of 2008. Focusing on the work of economists from Marx onwards, Jan Toporowski moves beyond conventional monetary theory to offer an insightful critical alternative to current financial macroeconomics.

Political Economy of Money and Finance

Political Economy of Money and Finance
Author: M. Itoh
Publisher: Springer
Total Pages: 318
Release: 1998-11-16
Genre: Business & Economics
ISBN: 0230375782

To explain the pronounced instability of the world economy since the 1970s, the book offers an important and systematic theoretical examination of money and finance. It re-examines the classical foundations of political economy and the creator of money. It assesses all of the important theoretical schools since then, including Marxist, Keynesian, post-Keynesian and monetarist thinkers. By presenting important insights from Japanese political economy previously ignored in Anglo-Saxon economics, the authors make a significant contribution to radical political economy based on a thorough historical analysis of capitalism.

Credit and State Theories of Money

Credit and State Theories of Money
Author: L. Randall Wray
Publisher: Edward Elgar Publishing
Total Pages: 296
Release: 2004-01-01
Genre: Business & Economics
ISBN: 9781843769842

In 1913 and 1914, A. Mitchell Innes published a pair of articles that stand as two of the best pieces written in the twentieth century on the nature of money. Only recently rediscovered, these articles are reprinted and analyzed here for the first time.

Money and Credit

Money and Credit
Author: Bruce G. Carruthers
Publisher: John Wiley & Sons
Total Pages: 284
Release: 2013-05-03
Genre: Business & Economics
ISBN: 0745655343

This book offers a fresh and uniquely sociological perspective on money and credit. As basic economic institutions, money and credit are easy to overlook when they work well. When they malfunction, as they did in the new millennium’s global financial crisis, their importance becomes obvious and demands further investigation. Bruce Carruthers and Laura Ariovich examine the social dimensions of money and credit at both the individual and corporate levels, from the development of personal credit and a consumer society, to the role of government in the creation of money. In clear prose, they illustrate how the overall future of the economy is governed by the financial system and the flow of capital into, and out of, firms operating in particular industrial sectors, as well as the social meanings money itself acquires and the ways people distinguish between “dirty” and “clean” money. This accessible and engaging book will be essential reading for upper-level students of economic sociology, and those interested in how the bills, coins and plastic in our pockets shape the world we live in.

Social Foundations of Markets, Money and Credit

Social Foundations of Markets, Money and Credit
Author: Costas Lapavitsas
Publisher: Routledge
Total Pages: 183
Release: 2003-09-04
Genre: Business & Economics
ISBN: 1134368801

The idea that money and its power over the world needs to be demystified, is one that not many people will argue with. This snappy well argued book attempts to do exactly that.

Financial crises and the nature of capitalist money

Financial crises and the nature of capitalist money
Author: Jocelyn Pixley
Publisher: Springer
Total Pages: 346
Release: 2013-09-12
Genre: Political Science
ISBN: 113730295X

This volume is a debate about a sociology and economics of money: a form of positive trespassing. It is unique in being written by scholars of both disciplines committed to this mutual venture and in starting from the original groundwork laid by Geoffrey Ingham. The contributors look critically at money's institutions and the meanings and history of money-creation and show the cross cutting purposes or incommensurable sides of money and its crises. These arise from severe tensions and social conflicts about the production of money and its many purposes. We demonstrate the centrality of money to capitalism and consider social disorders since the 2007 crisis, which marks the timeliness and need for dialogue. Both disciplines have far too much to offer to remain in the former, damaging standoff. While we are thankful to see a possible diminution of this split, remnants are maintained by mainstream economic and sociological theorists who, after all the crises of the past 30 years, and many before, still hold to an argument that money really does not 'matter'. We suggest, to many different and interested audiences, that since money is a promise, understanding this social relation must be a joint though plural task between economics and sociology at the very least.

Economics, Politics and the Age of Inflation

Economics, Politics and the Age of Inflation
Author: Paul Mattick
Publisher: Routledge
Total Pages: 178
Release: 2017-03-16
Genre: Business & Economics
ISBN: 1317281888

Originally published in 1978, the essays in this text discuss issues surrounding inflation, governmental roles in economic matters and varying economic systems and theories with a particular lean towards discussing capitalism evaluating how all of these factors affect the economic state of America. Mattick takes on the view that Economics is not an exact science and calls into question its predictive powers and as such, emphasises the issues that he felt needed most attention at the time of writing. This title will be of interest to students of economics and politics.

Plastic Money

Plastic Money
Author: Alya Guseva
Publisher: Stanford University Press
Total Pages: 341
Release: 2014-02-26
Genre: Business & Economics
ISBN: 0804789592

In the United States, we now take our ability to pay with plastic for granted. In other parts of the world, however, the establishment of a "credit-card economy" has not been easy. In countries without a history of economic stability, how can banks decide who should be given a credit card? How do markets convince people to use cards, make their transactions visible to authorities, assume the potential risk of fraud, and pay to use their own money? Why should merchants agree to pay extra if customers use cards instead of cash? In Plastic Money, Akos Rona-Tas and Alya Guseva tell the story of how banks overcame these and other quandaries as they constructed markets for credit cards in eight postcommunist countries. We know how markets work once they are built, but this book develops a unique framework for understanding how markets are engineered from the ground up—by selecting key players, ensuring cooperation, and providing conditions for the valuation of a product. Drawing on extensive interviews and fieldwork, the authors chronicle how banks overcame these hurdles and generated a desire for their new product in the midst of a transition from communism to capitalism.

Modern Money Theory

Modern Money Theory
Author: L. Randall Wray
Publisher: Springer
Total Pages: 325
Release: 2015-09-22
Genre: Business & Economics
ISBN: 1137539925

This second edition explores how money 'works' in the modern economy and synthesises the key principles of Modern Money Theory, exploring macro accounting, currency regimes and exchange rates in both the USA and developing nations.