first give rise to the accumulation of the stock of money and the stock of commodities. These stocks constitute the demand …

This paper argues that the usual framing of discussions of money, monetary policy, and fiscal policy plays into the … more generally. To put it the way that economists usually do, money "lubricates" the market mechanism-a good thing, because … so have no chance. The paper advances an alternative framing for money and shows how it can be used to reshape discussion …

ultimately replaced in what follows. The formal point of reference is "the integrated approach to credit, money, income …

One of the main contributions of Modern Money Theory (MMT) has been to explain why monetarily sovereign governments … categories: views about the origins of money and the role of taxes in the acceptance of government currency, views about fiscal …

This paper advances three fundamental propositions regarding money: (1) As R. W. Clower (1965) famously put it, money … buys goods and goods buy money, but goods do not buy goods. (2) Money is always debt; it cannot be a commodity from the … possible. These three propositions are used to build a theory of money that is linked to common themes in the heterodox …

In this paper I first provide an overview of alternative approaches to money, contrasting the orthodox approach, in … which money is neutral, at least in the long run; and the Marx-Veblen-Keynes approach, or the monetary theory of production …. I then focus in more detail on two main categories: the orthodox approach that views money as an efficiency …

money and finance should not matter much, the alternative tradition-from Veblen and Keynes to Galbraith and Minsky …-provides the basis for developing an approach that puts money and finance front and center. Including the theory of social costs …

This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of …

principles of post-Keynesian endogenous money theory. This paper argues that the most important critical component of post …