Rethinking the Theory of Money, Credit, and Macroeconomics
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A01=John Smithin
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Alternative Monetary Model
Author_John Smithin
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Category1=Non-Fiction
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Category=KCA
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COP=United States
Credit Creation
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Economic Growth
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Exchange Rates
Full Employment
Interest Rates
Language_English
Macroeconomics
Method of Enterprise
Money and Credit
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softlaunch
Product details
- ISBN 9781498542838
- Weight: 540g
- Dimensions: 178 x 256mm
- Publication Date: 14 Aug 2020
- Publisher: Bloomsbury Publishing Plc
- Publication City/Country: US
- Product Form: Paperback
- Language: English
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This book provides a comprehensive re-working of the basic principles of monetary macroeconomics in an alternative monetary model (AMM) of economic growth, the business cycle, inflation and income distribution. These principles differ considerably from those advanced in the standard macroeconomics literature and in textbooks. However, the latter have been demonstrably unsuccessful in the promotion of usable macroeconomic policy advice for the past several years, actually decades. A different approach is needed. In particular, the new approach takes seriously the vital role of credit creation and endogenous money in capitalism. It does not imagine that all of the difficult questions of economic policy-making may be resolved within a paradigm that conceptualizes economic activity as merely a question of barter exchange. The result is a blueprint for a set of growth-friendly macroeconomic policies which will promote full employment, financial stability and higher real wages – essentially for the benefit of the long-suffering middle and working classes rather for the chamber of commerce and financial interests.
John Smithin is professor emeritus of economics and senior scholar at York University.
