Showing 1 - 10 of 21
Orthodox and heterodox theories of financial crises are hereby compared from a theoretical viewpoint, with emphasis on their genesis. The former view (represented by the fourthgeneration models of Paul Krugman) reflects the neoclassical vision whereby turbulence is an exception; the latter...
Persistent link: https://www.econbiz.de/10009380295
This paper argues that a hierarchy of ideals exists in market interactions that sets the benchmark on the norm of fairness associated with these interactions, thus affecting pricing decisions associated with market exchange. As norms emerge, an ideal determines the criteria of optimal behavior...
Persistent link: https://www.econbiz.de/10010202248
Starting from the mid-nineteenth century, this paper analyzes two periods of financial instability connected with financial globalization. The first culminates with the 1929 crisis, while the second characterizes the more recent experience starting from the 1970s. The period in between is...
Persistent link: https://www.econbiz.de/10012165419
, and to a range of other financial derivatives. Unlike J. A. Schumpeter, Hyman Minsky did not see the banker merely as the … financial system, but also to Schumpeter’s views on financing innovation. …
Persistent link: https://www.econbiz.de/10010530034
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 …
Persistent link: https://www.econbiz.de/10010252186
elements in understanding the capitalist "new economy." This refers to his perceptive diagnosis of "money manager capitalism …
Persistent link: https://www.econbiz.de/10010457216
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 …
Persistent link: https://www.econbiz.de/10009631551
We hope to model financial fragility and money in a way that captures much of what is crucial in Hyman Minsky …
Persistent link: https://www.econbiz.de/10010529897
This paper argues that the usual framing of discussions of money, monetary policy, and fiscal policy plays into the … generally. To put it the way that economists usually do, money "lubricates" the market mechanism - a good thing, because the … chance. The paper advances an alternative framing for money and shows how it can be used to reshape discussion. The paper …
Persistent link: https://www.econbiz.de/10009665525
ultimately replaced in what follows. The formal point of reference is "the integrated approach to credit, money, income … Theory ; Income ; Profit ; Distributed Profit ; Money ; Flow ; Residual ; Transaction Matrix ; General Complementarity …
Persistent link: https://www.econbiz.de/10009618905