Book

Money, Income and Time

Cencini, Alvaro

2014

Overview

Cover -- Contents -- Acknowledgements -- Foreword -- Introduction -- Part I: A New Approach to Monetary Analysis -- 1 The origins of an alternative definition of money -- 1. The exclusion of money from the commodity set -- 2. Smith's great wheel of circulation -- 3. Money as the form of value -- 4. Walras' concept of numeraire -- 2 Nominal money and real money -- 1. The classical distinction of Adam Smith and David Ricardo -- 2. Marx's contribution to the classical distinction between nominal money and real money -- 3. Summing up -- 3 The Banking School and the Currency School -- 1. The Currency Principle -- 2. The Banking Principle -- 4 Keynes's analysis of money -- 1. From commodity-money to bank money -- 2. The creation of money -- 3. The distinction between money and purchasing power -- 4. Money's value and production costs -- 5 Money and time -- 1. The emission of money and the distinction between bank money and state money -- 2. The emission of money and time -- 6 Income and time -- 1. The distinction between money as a means of payment and money as a medium of exchange -- 2. TTbe creation of income -- 3. The destruction of income -- Part II: A Critical Appraisal of Traditional Monetary Analysis -- 7 The concept of commodity-money -- 1. The concept of commodity-money within the classical theory of value -- 2. The concept of commodity-money within the neoclassical theory of relative prices -- 8 Two faulty concepts: money as a net asset and money as a veil -- 1. Money as a net asset -- 2. Money as a veil -- 9 The neoclassical dichotomy -- 1. 'Legitimate' versus 'traditional' dichotomy -- 2. The triumph of Walras' law -- 10 The quantity theory of money -- 1. From Adam Smith to Irving Fisher -- 2. The monetarist restatement -- 11 The monetarists' attempt at generalization -- 1. The attempt to integrate Keynes's analysis.

• Publisher: Bloomsbury Publishing PLC
• Subject: Money
• ISBN: 1472514351, 9781472514356