his dissertation adviser, Joseph Schumpeter [1934]); the endogenous money approach of Basil Moore; the French …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 …

This paper explores the intellectual history of the state, or chartalist, approach to money, from the early developers … (Georg Friedrich Knapp and A. Mitchell Innes) through Joseph Schumpeter, John Maynard Keynes, and Abba Lerner, and on to … modern exponents Hyman Minsky, Charles Goodhart, and Geoffrey Ingham. This literature became the foundation for Modern Money …

Schumpeter, a century ago, argued that boom-and-bust cycles are intrinsically related to the functioning of a … evolve and assimilate successive technological revolutions. Furthermore, Schumpeter's analysis stressed the fundamental role …

elements in understanding the capitalist "new economy." This refers to his perceptive diagnosis of "money manager capitalism …

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 …