The Monetary Theory of Production: Tradition and Perspectives

Front Matter....Pages i-xxi
Introduction: The Monetary Theory of Production....Pages 1-19
Front Matter....Pages 21-21
Macroeconomic Analysis and Individual Economic Rationality: Some Lessons from Wicksell, von Mises and Schumpeter....Pages 23-38
Monetary Economics after Wicksell: Alternative Perspectives within the Theory of the Monetary Circuit....Pages 39-51
Lost and Found: Some History of Endogenous Money in the Twentieth Century....Pages 53-66
Alternative Theories of the Rate of Interest: A Reconsideration....Pages 67-81
An Inquiry into a Dark Mystery in the History of the Monetary Theory of Production: What Went Wrong with the Early Contribution of Joan Robinson....Pages 83-94
Some Reflections on Changes in Keynes’s Analysis between the Treatise and the General Theory ....Pages 95-107
Front Matter....Pages 109-109
Single-Period Analysis: Financial Markets, Firms’ Failures and Closure of the Monetary Circuit....Pages 111-123
The Existence of Monetary Profits within the Monetary Circuit....Pages 125-138
Central Banking in a Monetary Theory of Production: The Economics of Payment Finality from a Circular-Flow Perspective....Pages 139-151
Front Matter....Pages 153-153
Bank Mergers, Monopoly Power and Unemployment: A Monetary Circuit Approach....Pages 155-171
Circuit Theory and the Employment Issue....Pages 173-183
Front Matter....Pages 185-185
Non-Credit Money to Fight Poverty....Pages 187-201
Towards a Non-Conventional Circuit Approach: Credit, Microcredit and Property Rights....Pages 203-216
Monetary Theory of Production and Disequilibrium Inflation....Pages 217-227
Front Matter....Pages 229-229
What is Wrong with the Euro Area Monetary Model?....Pages 231-242
Circulation Approach and Applied Economics: Monetary Duality in Cuba....Pages 243-255
Lessons from Asset-Based Financial Systems with Zero-Reserve Requirements....Pages 257-268
Interest Rates, Interest Spreads and Monetary Circulation: Theoretical Framework and Empirical Implications for Macroeconomic Performance....Pages 269-284
Back Matter....Pages 285-297