also plays a key role in Modern Monetary Theory (MMT), the concept of helicopter money and the idea of permanent monetary …, that the theory is almost always contradicted by the actual workings of the modern credit economy. In fact, MMT seems to be …

Whether a theoretical system is realistic or not has been a concern in economics, particularly in monetary theory, over … the past century. Following John R. Hicks' proposal that a realistic monetary theory could be constructed along an … basic theories of monetary analysis. Concentrating primarily on certain fundamental building blocks it covers: the theory …

This paper asks why modern finance theory and the efficient market hypothesis have failed to explain long-term carry … Profits, 2010) and the Theory of the Monetary Circuit to give a mathematical representation of Minsky's Financial Instability …

This paper asks why modern finance theory and the efficient market hypothesis have failed to explain long-term carry …: An Integrated Approach to Credit, Money, Income, Production and Wealth, 2007) and the Theory of the Monetary Circuit to …

questions and preparing Thünen's theory of capital and interest. Thünen starts his analysis with a description of the … extended quantity theory of money by introducing the velocity of money transactions and formulating the correct algebraic … twentieth century and from the perspective of modern monetary theory, Thünen's drafts are an unexpected discovery and of …