Financial stability is paramount to the proper functioning of open markets and is deeply affected by financial fragmentation. Both financial stability and financial fragmentation have unintended consequences on optimal currency areas. In this paper, we survey the original optimal currency areas...

This paper contends that carving out pathways to finance the SDG agenda entails to reconsider tacit assumptions regarding the functioning of financial systems. We first use a history of economic thought perspective to demonstrate the flaws of the loanable fund theory, which has come to underlie...

The time value of money principle states that money today is worth more than money in the future if no interest is paid as compensation. This principle is not consistent with inter-generational equity or sustainability. Indeed, we show in this paper that the time value of money principle...

1. Introduction -- 2. Economy and reality -- 3. Economic systems and enterprises -- 4. Corporate governance: shareholders, employees, stakeholders -- 5. Sustainability, ownership and the role of shareholders -- 6. Understanding money -- 7. Understanding the monetary system -- 8. Balance sheets...