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Monetary Circuit Theory
Monetary circuit theory is a heterodox theory of monetary economics, particularly money creation, often associated with the post-Keynesian school. It holds that money is created endogenously by the banking sector, rather than exogenously by central bank lending; it is a theory of endogenous money. It is also called circuitism and the circulation approach. Contrast with mainstream theory The key distinction from mainstream economic theories of money creation is that circuitism holds that money is created endogenously by the banking sector, rather than exogenously by the government through central bank lending: that is, the economy creates money itself (endogenously), rather than money being provided by some outside agent (exogenously). These theoretical differences lead to a number of different consequences and policy prescriptions; circuitism rejects, among other things, the money multiplier based on reserve requirements, arguing that money is created by banks lending, wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heterodox Economics
Heterodox economics is a broad, relative term referring to schools of economic thought which are not commonly perceived as belonging to mainstream economics. There is no absolute definition of what constitutes heterodox economic thought, as it is defined in contrast to the most prominent, influential or popular schools of thought in a given time and place.Dequench, David (2007) "Neoclassical, mainstream, orthodox, and heterodox economics", ''Journal of Post Keynesian Economics'', 30 (2), 279-30/ref> Groups typically classed as heterodox in current discourse include the Austrian school of economics, Austrian, Ecological economics, ecological, Marxian economics, Marxist-Historical school of economics, historical, Post-Keynesian economics, post-Keynesian, and modern monetary theory, modern monetary approaches.Frederic S. Lee, 2008. "heterodox economics," ''The New Palgrave Dictionary of Economics'', 2nd Edition, v. 4, pp. 2–65Abstract. Four frames of analysis have been highlight ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pushing On A String
Pushing on a string is a figure of speech for influence that is more effective in moving things in one direction than another – one can ''pull,'' but not ''push.'' If something is connected to someone by a string, they can move it toward themselves by pulling on the string, but they cannot move it away from themselves by pushing on the string. It is often used in the context of economic policy, specifically the view that "Monetary policy sasymmetric; it being easier to stop an expansion than to end a severe contraction."Sandilans, Roger G. (2001), "The New Deal and 'domesticated' Keynesianism in America, in p. 231./ref> History According to Roger G. Sandilans and John Harold Woodp. 231 it cites U. S. Congress House Banking Currency Committee, Hearings, ''Hearings, Banking Act of 1935,'' March 18, 1935, p. 377. the phrase was introduced by Congressman T. Alan Goldsborough in 1935, supporting Federal Reserve chairman Marriner Eccles in Congressional hearings on the Banking Ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Post-Keynesian Economics
Post-Keynesian economics is a Schools of economic thought, school of economic thought with its origins in ''The General Theory of Employment, Interest and Money, The General Theory'' of John Maynard Keynes, with subsequent development influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor, Sidney Weintraub (economist born 1914), Sidney Weintraub, Paul Davidson (economist), Paul Davidson, Piero Sraffa, Jan Kregel and Marc Lavoie. Historian Robert Skidelsky, Baron Skidelsky, Robert Skidelsky argues that the post-Keynesian school has remained closest to the spirit of Keynes' original work. It is a heterodox approach to economics based on a non-equilibrium economics, non-equilibrium approach. Introduction The term "post-Keynesian" was first used to refer to a distinct school of economic thought by Alfred Eichner, Eichner and Kregel (1975) and by the establishment of the ''Journal of Post Keynesian Economics'' in 1978. Prior to 1975, and occasionally in more ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Modern Monetary Theory
Modern monetary theory or modern money theory (MMT) is a heterodox macroeconomic theory that describes currency as a public monopoly and unemployment as evidence that a currency monopolist is overly restricting the supply of the financial assets needed to pay taxes and satisfy savings desires. According to MMT, governments do not need to worry about accumulating debt since they can pay interest by printing money. MMT argues that the primary risk once the economy reaches full employment is inflation, which acts as the only constraint on spending. MMT also argues that inflation can be controlled by increasing taxes on everyone, to reduce the spending capacity of the private sector. MMT is opposed to the mainstream understanding of macroeconomic theory and has been criticized heavily by many mainstream economists. MMT is also strongly opposed by members of the Austrian school of economics. Principles MMT's main tenets are that a government that issues its own fiat money: # Ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quantitative Theory Of Money
The quantity theory of money (often abbreviated QTM) is a hypothesis within monetary economics which states that the general price level of goods and services is directly proportional to the amount of money in circulation (i.e., the money supply), and that the causality runs from money to prices. This implies that the theory potentially explains inflation. It originated in the 16th century and has been proclaimed the oldest surviving theory in economics. According to some, the theory was originally formulated by Renaissance mathematician Nicolaus Copernicus in 1517, whereas others mention Martín de Azpilcueta and Jean Bodin as independent originators of the theory. It has later been discussed and developed by several prominent thinkers and economists including John Locke, David Hume, Irving Fisher and Alfred Marshall. Milton Friedman made a restatement of the theory in 1956 and made it into a cornerstone of Monetarism, monetarist thinking. The theory is often stated in terms of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Velocity Of Money
image:M3 Velocity in the US.png, 300px, Similar chart showing the logged velocity (green) of a broader measure of money M3 that covers M2 plus large institutional deposits. The US no longer publishes official M3 measures, so the chart only runs through 2005. Employment again shown in blue, recessions as grey bars. The velocity of money measures the number of times that one unit of currency is used to purchase goods and services within a given time period. In other words, it represents how many times per period money is changing hands, or is circulating to other owners in return for valuable goods and services. The concept relates the size of economic activity to a given money supply. The speed of money exchange is one of the variables that determine inflation. The measure of the velocity of money is usually the ratio of a country's or an economy's nominal gross national product (GNP) to its money supply. If the velocity of money is increasing, then transactions are occurring ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Streams Of Money In The National Economy
''The'' is a grammatical article in English, denoting nouns that are already or about to be mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the most frequently used word in the English language; studies and analyses of texts have found it to account for seven percent of all printed English-language words. It is derived from gendered articles in Old English which combined in Middle English and now has a single form used with nouns of any gender. The word can be used with both singular and plural nouns, and with a noun that starts with any letter. This is different from many other languages, which have different forms of the definite article for different genders or numbers. Pronunciation In most dialects, "the" is pronounced as (with the voiced dental fricative followed by a schwa) when followed by a consonant sound, and as (homophone of the archaic pronoun ''thee' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marc Lavoie
Marc Lavoie (born 1954)Marc Lavoie profile at the website is a Canadian professor in at the and a former Olympic athlete. Academic career Born in Ot ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Riccardo Realfonzo
Riccardo Realfonzo (born 29 July 1964) is a well-known post-Keynesian economist. He is full professor at the University of Sannio (Italy) where in the late 2000s directed the economic department. Realfonzo was a member of the scientific committee of "Industria 2015" (2006–2007). After that he was two times the councilman for economic affairs of the city of Naples. Realfonzo studied mainly at the University of Naples (with Augusto Graziani), at the University of Florence and at the University of Cambridge. Among his publications are ''Money and Banking'' (Elgar 1998) and several papers in international journals and books; among other things he edited, with G. Fontana, ''The Monetary Theory of Production. Tradition and Perspectives'' (Macmillan, 2005). He is the editor of the magazine on line �Economia e Politica��. In 2010 he was the promoter of the ” against the austerity in Europe, a manifesto signed by more than 300 scholars. He is an editorialist of the main Italian eco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alain Parguez
Alain may refer to: People * Alain (given name), common given name, including list of persons and fictional characters with the name * Alain (surname) * "Alain", a pseudonym for cartoonist Daniel Brustlein * Alain, a standard author abbreviation used to indicate Henri Alain Liogier, also known as Brother Alain, as the author when citing a botanical name * Alain, the pseudonym used by Emile Chartier (1868–1951), French philosopher, journalist, essayist, pacifist, and teacher of philosophy. * Alain, Iran, a village in Tehran Province, Iran * Al Ain, a city in Abu Dhabi, United Arab Emirates ** Al Ain International Airport in the United Arab Emirates * Val-Alain, Quebec, village of 950 people in Quebec, Canada Other uses * 1969 Alain (1935 CG), a Main-belt Asteroid discovered in 1935 * ''Alain'' (crab), a genus of crabs in the family Pinnotheridae * Prix Alain-Grandbois The Prix Alain-Grandbois or ''Alain Grandbois Prize'' is awarded each year to an author for a book of poetry. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kreislauf
Kreislauf is a German netlabel and radio show focusing on quality electronic dance music and ambient music in many flavours (house, techno, breakbeat, etc.). History Kreislauf recommend and publish electronic music beyond commerce and drawers. The project was founded by Andreas Buttweiler and Thomas Hentrich in 1997 as an Ambient-Club in Mannheim/Germany. In the year 2000 they started their weekly radio-show "Kreislauf. FM" at the free radio-stadion Bermudafunk in Mannheim and Heidelberg, and since 2004 also at Tide 96.0 in Hamburg. The Label-Section was founded in 2001 by Dirk Hartmann (label-owner of Hörzu!) and Andreas Buttweiler, and become a netlabel in 2006. Kreislauf 016 was not released. Releases Kreislauf * Kreislauf 081 - Josh Winiberg "Game Over" * Kreislauf 062 - Hug A Turtle Today ":hel" * Kreislauf 061 - Labkopp "Labkopp LP" Kreislauf Extra Kreislauf Kommerz * Kommerz 01 - Tails "Tripbrett EP" See also * List of record labels File:Alvinoreygu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nicholas Johannsen
Nicholas August Ludwig Jacob Johansen (1844–1928) was a German-American amateur economist, today best known for his influence on and citation by John Maynard Keynes. He wrote under two pen names: A. Merwin and J. J. O. Lahn. Influence He was largely unrecognized in his lifetime, but following the Keynesian Revolution, he was recognized as one of the most significant influences on '' The General Theory,'' and he is cited in Keynes's 1930 ''Treatise on Money'' (p. 90). He is credited with devising an early form of effective demand, independent discovery of the multiplier, and less recognized contribution to monetary economics and business cycle theory; . His 1903 ''Der Kreislauf des Geldes und Mechanismus des Sozial-Lebens'' (''The Circuit Theory of Money,'' written in German) can be seen as an early work in monetary circuit theory. Crucially, he distinguished the roles of ''savings'' and ''investment'' – since only investment is directly productive, savings may be ha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
