EAN: 9783319902562

Bilder-Quelle: shopping24.de – Sport

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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03.05.2025 um 11:08 Uhr

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