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A number of commentators have argued that technological innovation is about to change the institutional structure of the retail payments system. Through the potential private issue of currency via new electronic payments systems – electronic money – individuals will create currencies based...
Persistent link: https://www.econbiz.de/10005076672
Lorsque Carl Menger décède en 1921, son oeuvre économique est associée à son ouvrage de 1871, les Grundsaetze. Depuis sa retraite en 1903, Menger a refusé toute nouvelle publication de cet ouvrage, consacrant sa recherche à la psychologie en particulier. Son fils Karl Menger reprend les...
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Economics. His later monograph on the topic, Zur Theorie des Kapitals (A contribution to the theory of capital), is more or less …The common interpretation of Carl Menger’s take on capital theory rests upon a few sentences in his Principles of … Menger’s view on capital does not only concern terminological points, but involves the subject matter of capital theory. A …
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Carl Menger has occasionally been cited as a forerunner to the network theory of money. This article analyses Carl … Menger's monetary theory and evaluates whether he was aware of the network characteristic of money from a retrospective angle …
Persistent link: https://www.econbiz.de/10005505288
This paper studies Carl Menger's theory of the emergence of a commodity money. We propose an interpretation of Menger … the role of imitation in the emergence of monetary equilibria in search theory. We conclude that Menger's approach may …
Persistent link: https://www.econbiz.de/10005505291
The paper presents a revisionist view of Carl Menger's monetary thought. Although Menger is widely regarded as understanding the monetary system as a Hayekian spontaneous order, Menger recognizes the importance of state in the historical development of money. In his 1900 'Geld', Menger...
Persistent link: https://www.econbiz.de/10005505368