Bernard Schmitt's Quantum Macroeconomic Analysis

Bernard Schmitt's analysis of the monetary economy of production aimed to introduce and explain the logical character of macroeconomic laws, as well as the origin of pathologies if these laws are not complied with. His main contributions concern value, profit, and capital, as well as inflation, unemployment, and international payments. This book expounds on the key principles of quantum macroeconomic analysis, which are based on logical laws derived from the nature of money and monetary payments. It also discusses the quantum macroeconomic analysis of capitalism and its pathologies, as well as the principles of two reforms that enable the passage from capitalism to post-capitalism and from the present non-system of international payments to an orderly system.

Format: Hardback
Length: 450 pages
Publication date: 25 November 2022
Publisher: Taylor & Francis Ltd

Bernard Schmitt's analysis of the monetary economy of production aimed to introduce and explain the logical character of the macroeconomic laws governing our economies. It also sought to explain the origin of the pathologies that arise when these laws are not complied with. Schmitt's main original contributions centered around the theories of value, profit, and capital, as well as his explanation of inflation, unemployment, and international payments, unified as quantum macroeconomic analysis.

In this book, Schmitt expounds on the key principles of quantum macroeconomic analysis as he conceived and developed them. He began his analysis by examining bank money and its association with produced output. Unlike traditional macroeconomics that relied on microeconomics or the aggregation of microeconomic variables, Schmitt's theory was not founded on mathematics and modeling. Instead, it was based on logical laws derived from the nature of money and monetary payments.

Part I of the book focuses on quantum macroeconomic analysis of capitalism and its pathologies, developed by Schmitt. It provides the necessary elements to understand the 'structural mechanism' of capitalism. Parts II and III delve into the principles of two reforms that enable the transition from capitalism to post-capitalism and from the present non-system of international payments to an orderly system.

This book is an essential reading for all those interested in heterodox approaches to macroeconomics, monetary economics, banking, international economics, and the history of economic thought. It offers a comprehensive and insightful exploration of the monetary economy of production, providing valuable insights into the workings of our economies and the challenges we face in achieving sustainable growth and stability.

Weight: 1050g
Dimension: 234 x 156 (mm)
ISBN-13: 9781138576018