Description
Book SynopsisMoney and Banking provides an original and comprehensive interpretation of the debate on banking and the nature of money in Keynes's time from a post Keynesian point of view. The book traces the pre-history of monetary circuit theory and its challenge to mainstream analysis in the first four decades of the century, contrasting the neoclassical approach with the monetary theory of production.
The author comprehensively examines and reconstructs the contributions of both well-known and more neglected authors to the debate on the nature of money and the function of the banks, from the viewpoint of a circuit theorist. He concludes with a comprehensive account of heterodox analyses of the creation of money by banks, beginning with Wicksell and ending with British and American proponents of 'free banking'.
Trade Review'Realfonzo's book is wide-ranging and well documented. It usefully traces back the historical origins of the monetary circuit and analyses a number of themes that are still central to the contemporary theoretical debate.'Table of ContentsContents: 1. The Neoclassical Model and the Monetary Theory of Production 2. The Nature of Money 3. Banks as Pure Intermediaries 4. Banks and the Deposit Multiplier 5. The ‘Flexible’ Multiplier and Potential Bank Credit 6. Creation of Money by the Banks 7. Concluding Remarks
