The State Theory of Money PDF Download

Author: Georg Friedrich Knapp
Publisher: London, Macmillan
ISBN:
Category : Money
Languages : en
Pages : 336

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Author: L. Randall Wray
Publisher: Springer
ISBN: 1137539925
Category : Business & Economics
Languages : en
Pages : 322

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This second edition explores how money 'works' in the modern economy and synthesises the key principles of Modern Money Theory, exploring macro accounting, currency regimes and exchange rates in both the USA and developing nations.

Author: L. Randall Wray
Publisher: Edward Elgar Publishing
ISBN: 9781843769842
Category : Business & Economics
Languages : en
Pages : 296

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In 1913 and 1914, A. Mitchell Innes published a pair of articles that stand as two of the best pieces written in the twentieth century on the nature of money. Only recently rediscovered, these articles are reprinted and analyzed here for the first time.

Author: Georg Frederich Knapp
Publisher:
ISBN: 9781646793648
Category : Money
Languages : en
Pages : 320

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"In 1895 I put forward my views for the first time, laying down that the money of a State is not what is of compulsory general acceptance, but what is accepted at the public pay offices..." -Georg Friedrich Knapp, Preface The State Theory of Money (1905) The State Theory of Money (1924), a pioneering economic work by German economist Georg Friedrich Knapp, argues that money is created by the state and does not have any intrinsic value, directly contrast to the theory of the Gold Standard. Knapp's so-called chartalist school of monetary theory paved the way for the Modern Monetary Theory, which states that governments can print as much money as they need without having to borrow or tax to finance spending. The State Theory of Money, first published in 1905 in Germany, and abridged and translated into English in 1924, is essential reading for students of monetary theories and economic history.

Author: Stephanie Kelton
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 232

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Is the theory of money that underlies most modern macroeconomics well-grounded? What determines the value of a currency, and how is the state's power over its currency related to its ability to stabilize prices and employment? Charles Goodhart's classic paper 'The Two Concepts of Money: Implications for the Analysis of Optimal Currency Areas' which first raised these questions is reprinted here, and the distinguished authors expand its line of argument and comment on its central themes. The issues discussed are of fundamental importance in contemporary monetary theory and policy. The State, the Market and the Euro presents two sharply contrasting theories of money - Chartalist and Metallist - and the resulting equally sharply contrasting approaches to macroeconomic policy. Academic monetary, financial and political economists will find this book of great interest as will policymakers, financial analysts and journalists.

Author: Stephanie Kelton
Publisher: PublicAffairs
ISBN: 1541736206
Category : Business & Economics
Languages : en
Pages : 311

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A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society. Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country. Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis. MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.

Author: Ludwig Von Mises
Publisher: Ludwig von Mises Institute
ISBN: 1610163222
Category : Credit
Languages : en
Pages : 507

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Author: John Maynard Keynes
Publisher: Springer
ISBN: 3319703447
Category : Business & Economics
Languages : en
Pages : 404

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This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.

Author: Michael Woodford
Publisher: Princeton University Press
ISBN: 1400830168
Category : Business & Economics
Languages : en
Pages : 805

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With the collapse of the Bretton Woods system, any pretense of a connection of the world's currencies to any real commodity has been abandoned. Yet since the 1980s, most central banks have abandoned money-growth targets as practical guidelines for monetary policy as well. How then can pure "fiat" currencies be managed so as to create confidence in the stability of national units of account? Interest and Prices seeks to provide theoretical foundations for a rule-based approach to monetary policy suitable for a world of instant communications and ever more efficient financial markets. In such a world, effective monetary policy requires that central banks construct a conscious and articulate account of what they are doing. Michael Woodford reexamines the foundations of monetary economics, and shows how interest-rate policy can be used to achieve an inflation target in the absence of either commodity backing or control of a monetary aggregate. The book further shows how the tools of modern macroeconomic theory can be used to design an optimal inflation-targeting regime--one that balances stabilization goals with the pursuit of price stability in a way that is grounded in an explicit welfare analysis, and that takes account of the "New Classical" critique of traditional policy evaluation exercises. It thus argues that rule-based policymaking need not mean adherence to a rigid framework unrelated to stabilization objectives for the sake of credibility, while at the same time showing the advantages of rule-based over purely discretionary policymaking.

Author: Ludwig Von Mises
Publisher: Ludwig von Mises Institute
ISBN: 1610164997
Category : Economics
Languages : en
Pages : 130

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