Beyond Barter: Lectures In Monetary Economics After 'Rethinking'

The conventional macroeconomic theory of the late twentieth and early twenty-first century has failed, and this book provides a thorough rethinking of the nature of a monetary economy. It proposes the targeting of real interest rates under a regime of flexible exchange rates or fixed but adjustable exchange rates as the main goal of monetary policy, along with innovative fiscal and trade policies to promote economic growth and achieve full employment and a fair distribution of income.

Format: Hardback
Length: 228 pages
Publication date: 22 May 2022
Publisher: World Scientific Publishing Co Pte Ltd

The conventional macroeconomic theory of the late twentieth and early twenty-first century, which posited that the complex workings of a monetary economy could be analyzed using the same principles as barter exchange, has proven to be unsuccessful. This book offers a comprehensive reevaluation of the nature of a monetary economy. It builds upon a comprehensive theory of the domestic and international monetary macroeconomy and macroeconomic policy for the modern age. At the core of the analysis lies the notion that a successful market economy necessitates an endogenous supply of money through the banking system. Consequently, the book proposes targeting real interest rates under a regime of flexible or fixed but adjustable exchange rates as the primary objective of monetary policy, alongside a suite of innovative fiscal and trade policies to foster economic growth and achieve full employment, as well as a fair distribution of income.

The conventional macroeconomic theory of the late twentieth and early twenty-first century, which posited that the complex workings of a monetary economy could be analyzed using the same principles as barter exchange, has proven to be unsuccessful. This book offers a comprehensive reevaluation of the nature of a monetary economy. It builds upon a comprehensive theory of the domestic and international monetary macroeconomy and macroeconomic policy for the modern age. At the core of the analysis lies the notion that a successful market economy necessitates an endogenous supply of money through the banking system. Consequently, the book proposes targeting real interest rates under a regime of flexible or fixed but adjustable exchange rates as the primary objective of monetary policy, alongside a suite of innovative fiscal and trade policies to foster economic growth and achieve full employment, as well as a fair distribution of income.

The conventional macroeconomic theory of the late twentieth and early twenty-first century, which posited that the complex workings of a monetary economy could be analyzed using the same principles as barter exchange, has proven to be unsuccessful. This book offers a comprehensive reevaluation of the nature of a monetary economy. It builds upon a comprehensive theory of the domestic and international monetary macroeconomy and macroeconomic policy for the modern age. At the core of the analysis lies the notion that a successful market economy necessitates an endogenous supply of money through the banking system. Consequently, the book proposes targeting real interest rates under a regime of flexible or fixed but adjustable exchange rates as the primary objective of monetary policy, alongside a suite of innovative fiscal and trade policies to foster economic growth and achieve full employment, as well as a fair distribution of income.

The conventional macroeconomic theory of the late twentieth and early twenty-first century, which posited that the complex workings of a monetary economy could be analyzed using the same principles as barter exchange, has proven to be unsuccessful. This book offers a comprehensive reevaluation of the nature of a monetary economy. It builds upon a comprehensive theory of the domestic and international monetary macroeconomy and macroeconomic policy for the modern age. At the core of the analysis lies the notion that a successful market economy necessitates an endogenous supply of money through the banking system. Consequently, the book proposes targeting real interest rates under a regime of flexible or fixed but adjustable exchange rates as the primary objective of monetary policy, alongside a suite of innovative fiscal and trade policies to foster economic growth and achieve full employment, as well as a fair distribution of income.

Weight: 476g
Dimension: 158 x 237 x 19 (mm)
ISBN-13: 9789811244421