Beyond Barter: Lectures In Monetary Economics After 'Rethinking'
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A01=John Smithin
Adam Smith
Author_John Smithin
Capital
Capitalism
Capitalism in One Country
Category=KCBM
Economic Crisis
Economic Growth
Economic Instability
Economic Nationalism
Economic Sociology
Economic Stability
Electronic Money
Employment
Endogenous Money
Entrepreneurial Business
Entrepreneurs
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eq_business-finance-law
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
Exchange Rates
Exploitation
Fair Distribution of Income
Finance
Financial Crises
Financial Innovation
Globalization
Government Spending
Hayek
History of Economic Thought
Interest Rates
International Relations
John Smithin
Keynes
Labour
Macroeconomic Policy
Marx
Means of Payment
Method of Enterprise
Minsky
Modern Monetary Theory
Monetary Analysis
Monetary Economy
Monetary Macroeconomics
Monetary Mercantilism
Monetary Theory
Money of Account
Myth of Barter
Myth of the Natural Rate of Interest
Philosophy of Money and Finance
Political Economy
Prosperity
Real Exchange Economy
Real Interest Rates Rules
Real Wages
Rentier Share
Revenge of the Rentiers
Revolution In Economic Theory
Schumpeter
Taxes
Trade
Unemployment
Usury
Wage Share
Product details
- ISBN 9789811244421
- Publication Date: 17 May 2022
- Publisher: World Scientific Publishing Co Pte Ltd
- Publication City/Country: SG
- Product Form: Hardback
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The conventional macroeconomic theory of the late twentieth and early twenty-first century, based on the assumption that the working of complex monetary economy could be analysed on the same principles as those of barter exchange, has demonstrably failed. This book provides a thorough rethinking of the nature of a monetary economy. It builds upon a complete theory of the domestic and international monetary macro-economy, and of macroeconomic policy for the modern age. Central to the analysis is the idea that a successful market economy requires an endogenous supply of money via the banking system. Therefore to achieve macroeconomic stability, the book proposes the targeting of real interest rates under a regime of flexible exchange rates or 'fixed but adjustable exchange rates' as the main goal of monetary policy, along with a range of innovative fiscal and trade policies to promote economic growth, and thereby achieve full employment and a fair distribution of income.
