Bilateral Monetary Theory
Takes the concept of money as a single item, and suggests there are in fact two forms of money: basic (credits and debts in service); and nominal (media of exchange and bank deposits). Haran outlines the benefits of his theory, challenging such ideas as the Pyramid of Credit and Quantity Theory.
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The Settlement Systems
The Basic Money Supply
Reality versus False Monetary Theory
Monetary and Economic Conditions Theories
The Monetary Analysis
amount assets available for lending balance bank lending Bank of England banking system banknotes basic money supply BMSC BMSD borrowing Britain buyers cash cause cheques circulation commercial banks create basic money created and destroyed creation and destruction creditor accounts creditor services creditor spending customers debt in services debtor services debtor spending deflation demand depositors economy effect example extent finance foreign currency funds gold increase basic money inflation inflationary interest rates investment issue loan luncheon vouchers media of exchange monetary authorities money is created money supply credits money supply debts Moreover nominal money noted overdraft parties pay and price pay increases payment purchasing power real money reciprocal services remuneration result sellers service creditor service debtor settlement spending on creditor spending on debtor standard of living status rules sterling store of value trading activity transactions unchanged unemployment unilateral monetary theory unit of account wage increases