Depression and the theoretical framework Keynes presents in The General Theory, the assumption of a constant money stock …

This paper relates Keynes's discussions of money, the state theory of money, financial markets, investors' expectations … argued that the central bank can influence the long-term interest rate on government bonds and the shape of the yield curve … mainly through the short-term interest rate. Investors' psychology, herding behavior in financial markets, and uncertainty …

This article examines the misconceptions about modern money theory (MMT) put forward by . The author divides her … means-of-payment function of money, that it considers money as a pure asset, that it does not distinguish between inside and … outside money, and that it does not distinguish between money and the monetary base. Second, Drumetz/Pfister (2021) falsely …

This paper explores the rise of money and class society in ancient Greece, drawing historical and theoretical parallels … metallist theories of money. It will be shown that the origins and the evolution of money were closely intertwined with the rise … and consolidation of class society and inequality. Money, class society, and inequality came into being simultaneously, so …

Monetary theory texts teach that governments create money and control monetary policy. Researchers at the Bank of … England, IMF and many others show that fractional reserve banking allows the private sector to create money. Most money … currently in existence is created by the private sector, through the process of lending on interest. Thus creation of interest …

. Money as a social representative of value, therefore, is introduced at the very beginning of Marx's microeconomics. Marx …'s rejection of Ricardo's interpretation of Say's Law requires that money as a means of circulation and as a means of payment is … profits for the capitalist class as a whole requires money advances, which have to increase by means of rising credit in a …

principles of post-Keynesian endogenous money theory. This paper argues that the most important critical component of post …-Keynesian monetary theory today is its rejection of the "natural rate of interest." By examining the hidden assumptions of the loanable … funds doctrine as it was modified in light of the idea of a natural rate of interest - specifically, its implicit reliance …

It is considered inapt for central banks to adjust reserve money (quantity of money) and interest rate (price of money … cointegration. The result indicates the superiority of monetary instrument, followed by combined instrument and then interest rate …

money, the private sector necessarily realizes savings, in the form of either government bond purchases or, if a default is … feared, “acquisitions” of new money. …