Capital, accumulation, and money: an integration of capital, growth, and monetary theory
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
New York [u.a.]
Springer
2010
|
| Ausgabe: | 2. ed. |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XXVI, 278 S. graph. Darst. 235 mm x 155 mm |
| ISBN: | 9780387981680 |
Internformat
MARC
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| 245 | 1 | 0 | |a Capital, accumulation, and money |b an integration of capital, growth, and monetary theory |c Lester D. Taylor |
| 250 | |a 2. ed. | ||
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| 650 | 4 | |a Wirtschaftsentwicklung | |
| 650 | 4 | |a Capital | |
| 650 | 4 | |a Economic development | |
| 650 | 4 | |a Macroeconomics | |
| 650 | 4 | |a Money | |
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Datensatz im Suchindex
| _version_ | 1804138663054934016 |
|---|---|
| adam_text | Titel: Capital, accumulation, and money
Autor: Taylor, Lester D
Jahr: 2010
Contents
1 Premisesand an Overview................................................... 1
2 Myros and Other Concepts and Definitions.............................. 7
2.1 Myros................................................................ 8
2.2 Myros Recovery Charges........................................... 11
2.3 Human and Nonhuman Capital..................................... 12
3 The Macroeconomic Framework............................................. 17
3.1 An Overview........................................................ 17
3.2 Constraints (or Conservation Laws ) Imposed by the Pool
of Fluid Capital..................................................... 22
3.3 The Determination of Asset Values................................ 25
3.4 Aggregate Demand and Supply..................................... 28
3.5 Macroeconomic Equilibrium....................................... 29
4 Interest and Money.............................................................. 31
4.1 Factors Making for the Existence of Interest....................... 32
4.2 Determination of Money and Natural Rates of Interest............ 33
4.3 A World with Fiat Money.......................................... 41
4.4 The Concept of Velocity and the Demand for Money............. 43
4.5 Power of the Monetary Authority.................................. 45
4.6 The Commercial Paper Market..................................... 46
4.7 Some Notes on Monetary Policy................................... 47
5 Production and Investment................................................... 49
5.1 Capital and Production.............................................. 49
5.2 From Production to Investment..................................... 52
5.3 Roles of the Money and Natural Rates of Interest................. 62
5.4 Financing of Investment: An Illustration........................... 62
xx v Contents
6 General Price Level and Inflation......................................... 65
6.1 Defining the General Price Level................................. 65
6.2 Problems Arising from Excessive Monetization of Assets...... 72
6.3 The General Price Level and the Natural Rate of Interest....... 75
6.4 Equilibrium in the Natural and Money Rates of Interest........ 76
7 Capital Values, Wealth, and Related Topics............................ 79
7.1 The Aggregate Wealth of an Economy.......................... 79
7.2 Money as Wealth and Real-Balance Effects..................... 80
7.3 Some Implications of Old Masters as a Store of Value......... 81
7.4 Taxation of Capital Gains........................................ 83
7.5 Forced Saving and Investment................................... 85
7.6 More on Excess Monetization of Assets......................... 87
7.7 Loan Defaults and the Stock of Money.......................... 88
7.8 Crowding-Out.................................................... 89
7.9 Bürden of the National Debt..................................... 92
7.10 Ricardian Equivalence............................................ 93
7.11 Commodity Money............................................... 94
7.12 Fluid Capital and the Gold Standard............................. 95
7.13 Demonetization and Monetization of Economies................ 98
7.14 Economic Growth with Deflation: The Period 1873-1896
in the USA........................................................ 101
8 Macroeconomic Equilibrium and Employment........................ 103
9 Capital Theory in Perspective.............................................. 113
9.1 Schumpeter....................................................... 113
9.2 Keynes............................................................ 116
9.3 Irving Fisher...................................................... 117
9.4 Böhm-Bawerk.................................................... 118
9.5 Jevons and Wicksell.............................................. 119
9.6 Capital as Embedded (or Stored) Labor.......................... 120
9.7 Capital Theory as the Economies of Time....................... 121
9.8 Capital Accounting............................................... 123
9.9 Capital and Nonrenewable Natural Resources................... 126
10 Opportunity and Sunk Costs............................................... 129
10.1 Opportunity Costs................................................ 129
10.2 The Measurement of Unit Incremental Cost..................... 131
10.3 Sunk Costs........................................................ 132
11 Trade, Transfers, and Monetary Overhangs............................ 135
11.1 Trade and Exchange Rates....................................... 135
11.2 Monetary Overhangs and Capital Levies........................ 137
Contents xxv
11.3 Wealth Transfers and Monetary Overhangs: A Stylized
Analysis........................................................... 139
11.4 Policies for Eliminating a Monetary Overhang: The Case of
German Reunification............................................ 146
11.5 The German Reunification: An Assessment..................... 150
12 Questions Related to Consumption and Saving......................... 153
12.1 The Macroeconomics of Retirement Saving and Consumption . 153
12.2 Questions Related to Position Goods............................. 155
12.3 Questions Related to Engel Curves and Income Elasticities..... 157
12.4 The Hierarchical Nature of the Pool of Fluid Capital............ 159
13 Questions Related to Economic Growth................................. 161
13.1 The General Mechanics of Economic Growth................... 161
13.2 Some Basic Truths Concerning Economic Development........ 163
13.3 Keynesand Economic Bliss...................................... 163
13.4 The Endogenous Nature of Economic Growth................... 164
13.5 The Role of Technological Change.............................. 165
13.6 Investment in Research and Development....................... 166
13.7 Economic Growth in Reverse: Large-Scale Disasters
in Low-Income Economies....................................... 167
13.8 Economic Growth and Different Stages of Development....... 168
14 Themes and Counterthemes: Fluid Capital in Retrospect........... 171
Postscript............................................................................. 247
15 Background and Tools for Understanding and Dealing
with Recurrent Financial Crises........................................... 181
15.1 The Impact of Uncertainty on Economic Activity............. 182
15.2 Uncertainty and the Pace of Investment........................ 185
15.3 Hedge, Speculative, and Ponzi Financing...................... 188
15.4 The Many Burdens of Quasi-Rents............................. 190
15.5 The Banking Principle, Banking Disease,
and Financial Panics....................................... 193
15.6 Types of Investors.............................................. I°5
15.7 Differences Between Goods Markets and Asset Markets...... 1 %
15.8 The Floor for Asset Values..................................... 197
15.9 Asset Prices in a Financial Panic: the Role of a
Lender-of-Last-Resort.......................................... 198
15.10 The Effect of Financial Panics on the Real Econorny
and the Role of Fiscal Policy................................... 201
15.11 Conclusion....................................................... 203
XXVI Contents
16 Booms, Busts, and Financial Panics: The Financial Meltdown
of 2007-2009.................................................................... 205
16.1 The Anatomy of Financial Panics................................ 205
16.1.1 Emergence from Recession............................. 205
16.1.2 Awakening of Asset Markets........................... 206
16.1.3 Some Signs of Danger.................................. 207
16.1.4 Casinos with Banks..................................... 208
16.1.5 Getting Ready for a Fall................................ 208
16.1.6 Onset of a Panic........................................ 210
16.2 The Fragility of Financial Markets............................... 210
16.3 A Digression on Uncertainty, Confidence, and Trust............ 213
16.4 Preludes to Panic................................................. 215
16.4.1 The Layering of Financial Intermediaries.............. 216
16.4.2 Lessening of Borrower and Lender s Risk............. 217
16.4.3 Spiking of Expectations................................ 218
16.4.4 Asset Prices Outpacing the Increase in the Pool
of Fluid Capital......................................... 218
16.4.5 Explosion of Derivatives Trading...................... 219
16.4.6 Activities of Hedge Funds.............................. 220
16.4.7 Globalization of Finance............................... 220
16.5 The Uniqueness of Banks and the Lender-of-Last-Resort....... 221
16.6 Some Observations on the Financial Meltdown of 2007-2009.. 222
16.7 Lessons for Reform............................................... 226
16.8 Summary and Wrap-Up.......................................... 228
Appendix A........................................................................... 233
Appendix B........................................................................... 241
AppendixC........................................................................... 247
Appendix D........................................................................... 255
Appendix E........................................................................... 257
Bibliography............................................................?............ 265
Index................................................................................... 271
|
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| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.4 |
| dewey-search | 332.4 |
| dewey-sort | 3332.4 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| edition | 2. ed. |
| format | Book |
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| spelling | Taylor, Lester D. Verfasser aut Capital, accumulation, and money an integration of capital, growth, and monetary theory Lester D. Taylor 2. ed. New York [u.a.] Springer 2010 XXVI, 278 S. graph. Darst. 235 mm x 155 mm txt rdacontent n rdamedia nc rdacarrier Wirtschaftsentwicklung Capital Economic development Macroeconomics Money Wachstumstheorie (DE-588)4128160-3 gnd rswk-swf Kapitaltheorie (DE-588)4130460-3 gnd rswk-swf Geldtheorie (DE-588)4121333-6 gnd rswk-swf Kapitaltheorie (DE-588)4130460-3 s Geldtheorie (DE-588)4121333-6 s Wachstumstheorie (DE-588)4128160-3 s 1\p DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017149258&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Taylor, Lester D. Capital, accumulation, and money an integration of capital, growth, and monetary theory Wirtschaftsentwicklung Capital Economic development Macroeconomics Money Wachstumstheorie (DE-588)4128160-3 gnd Kapitaltheorie (DE-588)4130460-3 gnd Geldtheorie (DE-588)4121333-6 gnd |
| subject_GND | (DE-588)4128160-3 (DE-588)4130460-3 (DE-588)4121333-6 |
| title | Capital, accumulation, and money an integration of capital, growth, and monetary theory |
| title_auth | Capital, accumulation, and money an integration of capital, growth, and monetary theory |
| title_exact_search | Capital, accumulation, and money an integration of capital, growth, and monetary theory |
| title_full | Capital, accumulation, and money an integration of capital, growth, and monetary theory Lester D. Taylor |
| title_fullStr | Capital, accumulation, and money an integration of capital, growth, and monetary theory Lester D. Taylor |
| title_full_unstemmed | Capital, accumulation, and money an integration of capital, growth, and monetary theory Lester D. Taylor |
| title_short | Capital, accumulation, and money |
| title_sort | capital accumulation and money an integration of capital growth and monetary theory |
| title_sub | an integration of capital, growth, and monetary theory |
| topic | Wirtschaftsentwicklung Capital Economic development Macroeconomics Money Wachstumstheorie (DE-588)4128160-3 gnd Kapitaltheorie (DE-588)4130460-3 gnd Geldtheorie (DE-588)4121333-6 gnd |
| topic_facet | Wirtschaftsentwicklung Capital Economic development Macroeconomics Money Wachstumstheorie Kapitaltheorie Geldtheorie |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017149258&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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