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This paper explores the rise of money and class society in ancient Greece, drawing historical and theoretical parallels … metallist theories of money. It will be shown that the origins and the evolution of money were closely intertwined with the rise … and consolidation of class society and inequality. Money, class society, and inequality came into being simultaneously, so …
Persistent link: https://www.econbiz.de/10010477576
money and credit starting from a unit of monetary base. Crucially, however, at the very low frequencies the relative amounts … of the two aggregates created out of a unit of base money have remained unchanged over time in each of the 42 countries I … analyze. This finding questions the widespread notion that, since WWII, credit has become disconnected from broad money, and …
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Depression and the theoretical framework Keynes presents in The General Theory, the assumption of a constant money stock …
Persistent link: https://www.econbiz.de/10012291986
This working paper integrates the credit money approach (associated with Post Keynesian endogenous money theory) with … the state money approach (associated with Modern Money Theory) by drawing on Wray's 1990 book (Money and Credit in … Capitalist Economies: The Endogenous Money Approach, Edward Elgar), his 1998 book (Understanding Modern Money: the Key to Full …
Persistent link: https://www.econbiz.de/10015200189
In this paper, we provide some reflections on the development of monetary theory and monetary policy over the last 150 years. Rather than presenting an encompassing overview, which would be overambitious, we simply concentrate on a few selected aspects that we view as milestones in the...
Persistent link: https://www.econbiz.de/10009699882
In this paper, we provide some reflections on the development of monetary theory and monetary policy over the last 150 years. Rather than presenting an encompassing overview, which would be overambitious, we simply concentrate on a few selected aspects that we view as milestones in the...
Persistent link: https://www.econbiz.de/10010394232
our problem allowing us to ask how old forms of money such as Gold and Silver hold up in today's world regarding their …The present work offers a review on two divergent schools of thought regarding the subject of money and highlights why … understanding it is important to grasp the workings and nature of the concept of money. We adopt a spontaneous order perspective on …
Persistent link: https://www.econbiz.de/10013170942