John Maynard Keynes's liquidity preference theory, Kregel argued that such rejection leaves the relation between money and … requires an extension of the circuit theory of money, along the lines of the credit and state money approaches of modern …

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 …

extreme policies such as a tax on cash holdings, which could conceivably drive rates deeply negative). Relentlessly mounting …

periods only, and have a clear, simple, certain exit strategy. The purpose is to prevent bank runs and money-stock collapses …--albeit using a credit-easing rather than a money stock–protection rationale--while deviating from others. Consistent with the … articulate an unambiguous exit strategy. Given that classicals demonstrated that satiating panic-induced demands for cash are …

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 …