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resource that has been hijacked by capitalism. Mary Mellor explores the history of money and modern banking, showing how …As the recent financial crisis has revealed, the state is central to the stability of the money system, while the … chaotic privately-owned banks reap the benefits without shouldering the risks. This book argues that money is a public …
Persistent link: https://www.econbiz.de/10011903333
In this paper I show that a lax anti-counterfeiting policy is inconsistent with price stability. I use a deterministic matching model with no commitment and no enforcement. An intrinsically worthless but perfectly durable object called a ‘note’ can be produced by banks at a given cost, but...
Persistent link: https://www.econbiz.de/10011604558
In monetary models in which agents are subject to trading shocks there is typically an ex-post inefficiency in that some agents are holding idle balances while others are cash constrained. This inefficiency creates a role for financial intermediaries, such as banks, who accept nominal deposits...
Persistent link: https://www.econbiz.de/10010277060
money, because Triffin and successors assume a commodity theory of money, a loanable funds model for credit creation, and … - chartalist money, endogenous credit creation, and interlocked global balance sheets - enables us to see four factors behind the …, and the dollar's status as global quasi-state money. …
Persistent link: https://www.econbiz.de/10014633245
Blockchain verspricht, Intermediäre wie Banken überflüssig zu machen und durch dezentrale Peer-to-Peer-Netzwerke zu ersetzen. Dieser Beitrag stellt die Frage nach der Realisierbarkeit dieser Ankündigung sowie danach, welche gesellschaftlichen Implikationen damit verbunden sind. Eine...
Persistent link: https://www.econbiz.de/10014503676
The paper offers a new theoretical framework for linking inflation and accumulation, with the Israeli experience as a case study. The focal point is the process of differential accumulation by the largest core firms. The theory of differential accumulation suggests that the relative power of...
Persistent link: https://www.econbiz.de/10011644557
as a socio-material transformation in which capital changes its skin from money, to commodities, to more money. The …
Persistent link: https://www.econbiz.de/10011646693
new money is created. We also aim to go further and argue that a proper understanding of how new money is created has such … possibilities. Our main argument is that the received truth of the fractional reserve theory or ‘money multiplier’ model taught in … most economics textbooks cannot explain the expansion of the money supply by logic, simple math and by basic bank …
Persistent link: https://www.econbiz.de/10011669114
capitalism, money and inequality, this chapter will suggest that it is the latter by considering the important relationship … between capitalism and money to explain the persistence of economic inequality in our world. The chapter also asks what can be … theoretical analysis of how we might consider the relationship between capitalism, money and inequality is developed. In the final …
Persistent link: https://www.econbiz.de/10013500788
expectations becoming more important in contemporary capitalism? … Kapitalismus verstehen? Und: Kommt es im Verlauf kapitalistischer Entwicklung zu einer Bedeutungszunahme fiktionaler Erwartungen? …
Persistent link: https://www.econbiz.de/10011660291