Money, income and time: A quantum-theoretical approach
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
London [u.a.]
Bloomsbury
2013
|
| Schriftenreihe: | Bloomsbury academic collections / economics
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XIV, 204 S. graph. Darst. |
| ISBN: | 9781472505842 9781472514356 |
Internformat
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| 245 | 1 | 0 | |a Money, income and time |b A quantum-theoretical approach |c Alvaro Cencini |
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Datensatz im Suchindex
| _version_ | 1804151522880126976 |
|---|---|
| adam_text | Contents
Acknowledgements x
Foreword by Meghnad Desai
xi
Introduction
1
Part I: A New Approach to Monetary Analysis
1
The origins of an alternative definition of money
9
1.
The exclusion of money from the commodity set
9
1.1.
Money and output
9
1.2.
Money and the value of money
10
2.
Smith s great wheel of circulation
10
2.1.
Money conceived as an empty vehicle
10
2.2.
The circulation of money and the circulation of
goods: their identity
13
3.
Money as the form of value
15
3.1.
Commodity-money and the form of value: their
incompatibility
16
4.
Walras concept of
numéraire
19
4.1.
Money as a numerical standard of relative value
19
4.2.
The
numéraire
and the function of money
20
2
Nominal money and real money
23
1.
The classical distinction of Adam Smith and David
Ricardo 23
1.1.
Money and money s worth
23
1.2.
Nominal money and real money
25
1.3.
Money and the payment of labour
26
2.
Marx s contribution to the classical distinction
between nominal money and real money
28
2.1.
The concept of money as the general equivalent
28
2.2.
Real money and the payment of wages
29
3.
Summing up
30
3
The Banking School and the Currency School
33
1.
The Currency Principle
1.1.
Convertibility and depreciation
33
1.2.
Can real money be the cause of depreciation?
35
1.3.
Depreciation as caused by the over-emission of
nominal money
vi
Contents
2.
Tbe Banking
Principle
37
2.1.
The activity of banks and the increase in the
circulation of money
37
2.2.
Production and the depreciation of money
39
2.3.
Depreciation and convertibility as viewed by the
Banking School
41
4
Keynes s analysis of money
44
1.
From commodity-money to bank money
44
1.1.
Commodity-money, bank money and money
proper
44
1.2.
Bank money and the role of the state
45
2.
Tbe creation of money
47
2.1.
Money as an asset-liability
47
2.2.
The example of overdrafts
48
3-
The distinction between money and purchasing
power
49
3.1.
The definition of money s purchasing power
50
3.2.
The origin of money s purchasing power
51
4.
Money s value and production costs
53
4.1.
Labour as the sole factor of production
53
4.2.
Money, income and the payment of wages
54
5
Money and time
57
1.
Tbe emission of money and tbe distinction between
bank money and state money
57
1.1.
The emission of outside money
58
1.2.
The emission of inside money
60
1.3.
The emission of book-entry money is not a source
of income, either for the state or for the banks
63
2.
The emission of money and time
65
2.1.
Double accounting and credit
65
2.2.
Credit and the emission of money
67
2.3.
The emission of money, the creation of bank
deposits and time
69
2.4.
The creation of money and the demand for
money to hold
70
2.5.
Time and the circulation of money
71
6
Income and time
76
1.
Tbe distinction between money as a means of
payment and money as a medium of exchange
77
Contents
vii
1.1.
Money as a means of exchange
77
1.2.
Money as a means of payment
79
2.
Tbe creation of income
81
2.1.
Income, purchasing power and prices
81
2.2.
The creation of income, the first example of
absolute exchange
82
2.3.
The circuit of the creation of income
85
2.4.
The creation of income and quantum time
87
2.5.
Income, capital and time
88
3.
The destruction of income
89
3.1.
Income and consumption
89
3.2.
The destruction of income as the second example
of absolute exchange
90
3.3.
The circuit of the destruction of income
91
3.4.
The circuit of income as a whole
93
3.5.
Income destruction and quantum time
95
Part II: A Critical Appraisal of Traditional Monetary Analysis
7
The concept of commodity-money
103
1.
Tbe concept of commodity-money within the
classical theory of value
103
1.1.
Money and the labour theory of value
103
1.2.
Money as a dimensional standard of value
104
1.3.
Gold as a general equivalent
106
1.4.
The difficulties relating to the concept of
commodity-money
107
Commodity-money and labour time
107
Ricardo
s
dilemma
108
2.
Tbe concept of commodity-money within the
neoclassical tbeory of relative prices
110
2.1.
From absolute value to relative prices
110
2.2.
The numerical expression of commodity-money 111
2.3.
The logical impossibility of transforming money
into numbers within the neoclassical theory of
relative prices
112
8
Two faulty concepts: money as a net asset and money
as a veil
П4
1.
Money as a net asset
1.1.
Money and relative exchange
114
1.2.
Money s purchasing power U6
1.3.
The social determination of money s purchasing
power
viti
Contents
1.4.
Purchasing power and the simultaneous solution
of the
GES
119
2.
Money as a veil
120
2.1.
Purchasing power as a mirror image of relative
exchange value
120
2.2.
Can a veil circulate goods?
123
9
The neoclassical dichotomy
127
1.
Legitimate versus traditional dichotomy
129
1.1.
The rejection of the traditional dichotomy
129
1.2.
The legitimate dichotomy
130
1.3.
The logical inconsistency between Samuelson s
legitimate dichotomy and Walras law
132
2.
The triumph of Walras law
133
2.1.
Walras law and General Equilibrium Analysis
133
2.2.
The logical impossibility of determining an excess
demand within a GES
135
2.3.
On the impossibility of determining an excess
demand even within the boundaries of virtual
exchange
136
2.4.
The necessary clearance of all markets
139
10
The quantity theory of money
141
1.
From Adam Smith to Irving Fisher
141
1.1.
The classical origin of the equation of exchange
141
1.2.
The tautological aspect of Fisher s equation
142
1.3.
The attempt to transform Fisher s truism into a
functional relationship
144
2.
The monetarist restatement
146
2.1.
From tautology to causal relationship
146
2.2.
The quantity theory as a theory of the demand
for money
148
2.3.
The demand function for money and the demand
function for income
150
11
The monetarists attempt at generalization
154
1.
The attempt to integrate Keynes s analysis
154
1.1.
Friedman s theory of nominal income
154
1.2.
Friedman s failure to determine monetary prices
156
2.
Keynes s refusal of the quantity theory of money
159
2.1.
Keynes s critical approach
159
2.2.
On two possible interpretations of Keynes s
critical approach to the quantity theory of money
160
Contents ix
12
The quantity theory of money and the neoclassical
dichotomy
163
1.
Nominal income, real income and the level of
prices
163
1.1.
The macroeconomic equivalence of nominal and
real income
163
1.2.
The neoclassical dichotomy and the net asset
definition of money
166
2.
The necessary equivalence of nominal and real
income
170
2.1.
The purchasing power of nominal income
170
2.2.
The reciprocal
defínition
of nominal income and
real income
171
13
The neutrality of money
173
1.
The neutrality of money and the neoclassical
dichotomy
173
1.1.
The homogeneity postulate within Walrasian and
non-
Walrasian models
173
1.2. Hahn
s
refusal of the neutrality of money
175
2.
The concept of neutrality and the definition of
money
177
2.1.
Neutrality and the net asset definition of money
177
2.2.
Towards a new definition of the neutrality of
money
179
Epilogue
182
Bibliography
189
Index of names
196
Subject index
|
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| spelling | Cencini, Alvaro Verfasser aut Money, income and time A quantum-theoretical approach Alvaro Cencini London [u.a.] Bloomsbury 2013 XIV, 204 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Bloomsbury academic collections / economics Geldtheorie (DE-588)4121333-6 gnd rswk-swf Geldtheorie (DE-588)4121333-6 s DE-604 Digitalisierung UB Bayreuth - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=026858755&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
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| title | Money, income and time A quantum-theoretical approach |
| title_auth | Money, income and time A quantum-theoretical approach |
| title_exact_search | Money, income and time A quantum-theoretical approach |
| title_full | Money, income and time A quantum-theoretical approach Alvaro Cencini |
| title_fullStr | Money, income and time A quantum-theoretical approach Alvaro Cencini |
| title_full_unstemmed | Money, income and time A quantum-theoretical approach Alvaro Cencini |
| title_short | Money, income and time |
| title_sort | money income and time a quantum theoretical approach |
| title_sub | A quantum-theoretical approach |
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