Political Economy of Money and FinanceTo explain the pronounced instability of the world economy since the 1970s, the book offers an important and systematic theoretical examination of money and finance. It re-examines the classical foundations of political economy and the creator of money. It assesses all of the important theoretical schools since then, including Marxist, Keynesian, post-Keynesian and monetarist thinkers. By presenting important insights from Japanese political economy previously ignored in Anglo-Saxon economics, the authors make a significant contribution to radical political economy based on a thorough historical analysis of capitalism. |
Contents
PART II PRINCIPLES OF CREDIT AND FINANCE | 81 |
PART III POS1WAR REALITIES AND THEORIES | 182 |
Notes and References | 261 |
| 283 | |
| 297 | |
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Common terms and phrases
analysis argued assets Bank of England banking credit banknotes bills of exchange Bretton Woods system business cycle capital market capitalist accumulation capitalist economy central bank circulation classical commercial credit commodity money credit money crises crisis domestic economic effective demand emergence exchange rate fiat money financial instability firms fixed capital form of value free banking gold historical ibid increase individual capitals industrial capital inflation interest rates interest-bearing capital investment issue joint-stock capital Keynes Keynesianism labour power lending liabilities loans Marx Marx's Marxist means of payment metal monetarism monetary policy money and finance money commodity money market money supply operations output political economy post-Keynesian production quantity of money quantity theory rate of interest rate of profit real accumulation relative reproduction reserves Ricardo rise role Say's law share prices social socialist society speculative Steuart supply of money surplus value theoretical theory of money tion trade transactions unemployment upswing wages