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"In 1895 I put forward my views for the first time, laying down that the money of a State is not what is of compulsory general acceptance, but what is accepted at the public pay offices..." -Georg Friedrich Knapp, Preface The State Theory of Money (1905) The State Theory of Money (1924), a pioneering economic work by German economist Georg Friedrich Knapp, argues that money is created by the state and does not have any intrinsic value, directly contrast to the theory of the Gold Standard. Knapp's so-called chartalist school of monetary theory paved the way for the Modern Monetary Theory, which states that governments can print as much money as they need without having to borrow or tax to finance spending. The State Theory of Money, first published in 1905 in Germany, and abridged and translated into English in 1924, is essential reading for students of monetary theories and economic history.
Timeless Classics with Strong Influence on Keynes, Weber, and MMT and Essential Readings to Understand the Modern Monetary System.
This second edition explores how money 'works' in the modern economy and synthesises the key principles of Modern Money Theory, exploring macro accounting, currency regimes and exchange rates in both the USA and developing nations.
"For some time to come, this book will guarantee that the knowledge of German industrialization and the latest information on German research will be much improved and up to date abroad." For some time to come, this book will guarantee that the knowledge of German industrialization and the latest information on German research will be much improved and up to date abroad." - Vierteljarschrift für Sozial und Wirtschaftsgeschichte "The data . . . collected is so impressive, and the economic history so difficult to master, that most [scholars] will need this book on theirshelves." - Eric Dorn Brose, Drexel University " . . . an outstanding primer on the 19th Century German economy . . . profess...
The author suggests that governments use faulty methods for regulating credit and argues the use of credit multipliers. He argues for a rejection of the theory of the investment multiplier because investment can reduce employment, and will lower prices. The productive resources it releases require new credit creation to employ them.
Offers a distinctive history of money as an everyday social technology in the Dutch Republic from 1600 to 1850.
Half fable, half manifesto, this brilliant new take on the ancient concept of cash lays bare its unparalleled capacity to empower and enthrall us. Frederick Kaufman tackles the complex history of money, beginning with the earliest myths and wrapping up with Wall Street’s byzantine present-day doings. Along the way, he exposes a set of allegorical plots, stock characters, and stereotypical metaphors that have long been linked with money and commercial culture, from Melanesian trading rituals to the dogma of Medieval churchmen faced with global commerce, the rationales of Mercantilism and colonial expansion, and the U.S. dollar’s 1971 unpinning from gold. The Money Plot offers a tool to se...
Europe’s financial crisis cannot be blamed on the Euro, Harold James contends in this probing exploration of the whys, whens, whos, and what-ifs of European monetary union. The current crisis goes deeper, to a series of problems that were debated but not resolved at the time of the Euro’s invention. Since the 1960s, Europeans had been looking for a way to address two conundrums simultaneously: the dollar’s privileged position in the international monetary system, and Germany’s persistent current account surpluses in Europe. The Euro was created under a politically independent central bank to meet the primary goal of price stability. But while the monetary side of union was clearly co...