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The dismal state of macroeconomics and the opportunity for a new beginning
Wray, L. Randall - 2011
) coming. Obviously, the answer is complex, but it must include reference to the evolution of macroeconomic theory over the … leave out the parallel developments in finance theory - with its efficient markets hypothesis - and in approaches to … 12 and 17 of the General Theory. It essentially reduced Keynes to sticky wages and prices, with nonneutral money only in …
Persistent link: https://www.econbiz.de/10008906589
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Money as a Legal Institution
Desan, Christine A. - 2015
This chapter summarizes the case for considering money as a legal institution. The Western liberal tradition, represented here by John Locke’s iconic account of money, describes money as an item that emerged from barter before the state existed. Considered as an historical practice, money is...
Persistent link: https://www.econbiz.de/10014153950
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From the state theory of money to modern money theory : an alternative to economic orthodoxy
Wray, L. Randall - 2014
Theory (MMT). In the MMT approach, the state (or any other authority able to impose an obligation) imposes a liability in the …
Persistent link: https://www.econbiz.de/10010252186
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Kondratieff Cycles and the Monetary System
Lechner, Gerhard - 2020
This paper deals with the question of whether there is a relationship between Kondratieff cycles and changes in the global monetary system. We use the model of the well-known Kondratieff scientist Carlota Perez to examine this relationship. It has been observed that at the beginning of the...
Persistent link: https://www.econbiz.de/10012848055
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The case for the public provisioning of the payments system
Maclachlan, Fiona C. - In: Journal of post-Keynesian economics 45 (2022) 2, pp. 263-280
Persistent link: https://www.econbiz.de/10013252851
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Political economy : an institutional and behavioral approach
Conrad, Christian A. - 2020
Persistent link: https://www.econbiz.de/10012228621
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From divergence to convergence : Irving Fisher and John R. Commons as champions of monetary reforms
Barber, William Joseph - In: Economics broadly considered : essays in honor of …, (pp. 94-106). 2001
Persistent link: https://www.econbiz.de/10001625704
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Monetary policy : an institutionalist approach
Wray, L. Randall - In: Institutional analysis and economic policy, (pp. 85-113). 2003
Persistent link: https://www.econbiz.de/10001892851
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Economic history and history of economics : in praise of an old relationship
Rosselli, Annalisa - In: The European journal of the history of economic thought 20 (2013) 6, pp. 865-881
Persistent link: https://www.econbiz.de/10010257010
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Monetary Policy : An Institutionalist Approach
Wray, L. Randall - 2014
, the theory of the role that money plays in the economy, and policy analysis and prescription. This paper first reviews the …
Persistent link: https://www.econbiz.de/10012709324