Description
Book SynopsisIn this volume, Louis-Philippe Rochon and Hassan Bougrine bring together key post-Keynesian voices in an effort to push the boundaries of our understanding of banks, central banking, monetary policy and endogenous money. Issues such as interest rates, income distribution, stagnation and crises - both theoretical and empirical - are woven together and analysed by the many contributors to shed new light on them. The result is an alternative analysis of contemporary monetary economies, and the policies that are so needed to address the problems of today.
Students and professors of economics, policymakers interested in alternative policies, academics and scholars in all fields will benefit from the explorations therein, and would also appreciate the companion publication, Economic Growth and Macroeconomic Stabilization Policies in Post-Keynesian Economics, also published by Edward Elgar Publishing.
Contributors include: R. Bellofiore, H. Bougrine, J. Chen, L. Cordonnier, E. Correa, S. Dow, T. Ferguson, G. Fontana, C. Gnos, R. Guttmann, P.D. Jorgensen, P. Kriesler, E. Le Heron, J. Leclaire, V. Monvoisin, A. Parguez, E. Pérez Caldentey, P. Petit, J.-F. Ponsot, L.-P. Rochon, S. Rossi, S. Thabet, J. Toporowski, M. Vernengo
Trade Review'This is an outstanding, wide-ranging collection of seventeen state-of-the-art essays on endogenous money, banking and monetary policy. The riveting essays are deeply engaging, well written, with a keen eye on current real-world developments and great clarity in exposition. The analyses are solidly grounded in the history of economic thought and all authors bring a commendable commitment to not just understand the world of money and banking, but also to improve the workings of our monetary economies for the common good. A must read.' --Servaas Storm, Delft University of Technology, the Netherlands
Table of ContentsContents: INTRODUCTION Louis-Philippe Rochon and Hassan Bougrine PART 1: MONEY, INCOME DISTRIBUTION AND POST-KEYNESIAN ECONOMICS 1. Celebrating Pioneers Louis-Philippe Rochon and Hassan Bougrine 2. Understanding Credit-Money: Lavoie and Seccareccia’s Contribution to Monetary Theory Robert Guttmann 3. Money, State and Growth of Welfare: Fighting the dangerous transformation of capitalism Alain Parguez and Slim Thabet 4. Two Easy Pieces Riccardo Bellofiore 5. The Role of Stabilization Policies in the New Consensus Macroeconomics (NCM): Modern Lessons from John Kenneth Galbraith Giuseppe Fontana 6. The Macroeconomic Dimension of Money Virginie Monvoisin and Jean-Francois Ponsot 7. The Theory of Money, Interest and Unemployment Hassan Bougrine 8. International Money: Where do we stand? Claude Gnos and Sergio Rossi 9. Endogenous Money, Liquidity Preference and Confidence: For a qualitative theory of money Edwin Le Heron 10. High Finance, Political Money, and the U.S. Congress: A Quantitative Assessment of the Campaign to Roll Back Dodd-Frank Thomas Ferguson, Paul Jorgensen, and Jie Chen 11. International Rentiers, Finance and Income Distribution: A Latin American and post-Keynesian Perspective Esteban Pérez Caldentey and Matías Vernengo PART 2: CRISES AND POST-KEYNESIAN ECONOMICS 12. Is Macro in Crisis? Sheila Dow 13. Stagnation and Crisis: Understanding Credit Flows in Latin America from a Circuitist Perspective Eugenia Correa and Wesley Marshall 14. Secular Stagnation and the Curse of Contemporary Eldorados: What ever happened to broad-impact products? Laurent Cordonnier 15. Seccareccia and Lavoie on Financial Crises: Linking the Real and Financial Sectors of the Economy: The Major Contribution of Post-Keynesians Joelle Leclaire 16. On the changing nature and geography of crises: lessons for a sustainable internationalization Pascal Petit 17. Banking and Financial Crises Jan Toporowski Index
