The economics of financial turbulence : alternative theories of money and finance / Bill Lucarelli.

Format:

Book

Author/Creator:

Lucarelli, Bill.

Series:

New directions in modern economics

Language:

English

Subjects (All):

Financial crises.

Physical Description:

vi, 183 pages ; 22 cm.

Place of Publication:

Cheltenham, UK Northampton, MA : Edward Elgar, [2011]

Summary:

Since orthodox neoclassical and monetarist economics precludes the very possibility of endogenous financial crises, the sheer repetition of financial crises perhaps recommends that we begin to investigate possible endogenous causes, which would require turning to heterodox theories of endogenous money, many of which arise out of the seminal writings of Karl Marx and John Maynard Keynes, suggests Lucarelli (U. of Western Sydney, Australia). On the basis of that observation, he discusses Marx's theory of value as it pertains to a monetary economy; Marx's theories of money, credit, and crises; the Keynesian theory of money and uncertainty; extensions of Keynes in the post-Keynesian and Circuitist literature; and a synthesis of Michal Kalecki's principle of increasing risk and Hyman Minsky's financial instability hypothesis, augmented by Thorstein Veblen's debt-deflation theory of depressions. Having developed his theoretical background, Lucarelli applies it to a historical analysis of the current financial crisis. Annotation ©2011 Book News, Inc., Portland, OR (booknews.com)

Notes:

Includes bibliographical references (pages 155-176) and index.

ISBN:

9781849808781

1849808783

OCLC:

680435029

Publisher Number:

60001359537