The Creators of Inside Money
Produktnummer:
1817350b08d77542f4b7326d0505a0860c
| Autor: | Thomas, D. Gareth |
|---|---|
| Themengebiete: | Catastrophe framework Commercial banks Credit Credit risk Depositors Modern Portfolio Theory Monetary economy Money supply Real economy Retail banks |
| Veröffentlichungsdatum: | 10.01.2019 |
| EAN: | 9783030079765 |
| Sprache: | Englisch |
| Seitenzahl: | 167 |
| Produktart: | Kartoniert / Broschiert |
| Verlag: | Springer International Publishing |
| Untertitel: | A New Monetary Theory |
Produktinformationen "The Creators of Inside Money"
The book explores the endogenous creators of inside money, the commercial banks, and their key role in igniting the 2007-8 monetary crisis and the aftermath of the Great Recession. This is an area of study overlooked by the traditional approach in the form of neo-classical analysis, a body of theory based on a barter system of exchange. Money has evolved from a construct of barter to become a medium of exchange based on fiat money and loan creation by the banking system, underpinned by legal tender, and therefore, a creature of law. It is not a phenomenon exogenously controlled by the monetary authorities and simply assumed to be a “veil” over the real economy, which just determines the absolute price level. This monograph, in the eyes of the student, represents critical thinking and the realization of a more precise formulation of the endogenous money supply with various features systematically added in an attempt to derive a fully dynamic model of the monetary system, which will be straightforward to visualize and contrast with the benchmark approach.
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