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Money, Interest and Capital: A Study in the Foundations of Monetary Theory (Modern Cambridge Economics Series) by Rogers, Colin, 1948- is a nonfiction available to read on EtoBox.

What is Money, Interest and Capital: A Study in the Foundations of Monetary Theory (Modern Cambridge Economics Series) about?

<p><P>This book presents a study in the foundations of monetary theory with several unique features. It consists of two parts&#58; a critique of the varieties of neoclassical monetary theory, and a rigorous statement of the foundations of Post Keynesian monetary theory. The two parts reflect Joseph Schumpeter's distinction between monetary theories in the divergent traditions of Real and Monetary Analysis. <P>Part I offers a novel critique of Wicksellian and neo-Walrasian general equilibrium versions of Real analysis. The critique of Wicksell's monetary theory demonstrates the general impossibility of defining the natural rate of interest without which the loanable funds theory collapses. The critique of neo-Walrasian monetary theory, on the other hand, exploits the inessential role of 'money' in temporary equilibrium and overlapping generations models and develops a novel interpretation of the Patinkin controversy and the Clower finance constraint. The implications of these developments are then traced through the debates between monetarists and Keynesians. <P>Part II presents a rigorous argument for securing the foundations of Post Keynesian monetary theory in the tradition of Mo

Who reads Money, Interest and Capital: A Study in the Foundations of Monetary Theory (Modern Cambridge Economics Series)?

Author

Rogers, Colin, 1948-

Publisher

Cambridge [England] ; New York: Cambridge University Press

Published

1989

Language

EN

ISBN

9780511559747

Category

nonfiction

Subjects

Economics, Finance, Business