Modern money theory : a primer on macroeconomics for sovereign monetary systems / L. Randall Wray.

Format:

Book

Author/Creator:

Wray, L. Randall, 1953- author.

Language:

English

Subjects (All):

Monetary policy.

Fiscal policy.

Macroeconomics.

Physical Description:

xvi, 306 pages : illustrations ; 22 cm

Edition:

Second edition.

Place of Publication:

Houndmills, Basingstoke, Hampshire ; New York, NY : Palgrave Macmillan, 2015.

Summary:

In a completely revised and updated second edition, L. Randall Wray takes a new approach to macroeconomics that challenges conventional wisdom and uncovers how money 'works' in the modern economy. This book synthesizes the key principles of Modern Money Theory, exploring macro accounting, monetary and fiscal policy, currency regimes and exchange rates in developed and developing nations. L. Randall Wray addresses the pressing issue of how misunderstandings about the nature of money have caused the current global financial meltdown, and provides fresh ideas about how policymakers around the world should address the continued weaknesses in their economies. With new chapters on tax policies and inflation, this second edition reasserts the importance of the Modern Money Theory approach and how Wray has changed the way we look at the economy. Book jacket.

Contents:

Preface

Box: definitions

Introduction the basics of modern money theory

The basics of macroeconomic accounting

Spending by issuer of domestic currency

The domestic monetary system : banking and central banking

Fiscal operations in a nation that issues its own currency

Tax policy for sovereign nations

Modern money theory and alternative exchange rate regimes

Monetary and fiscal policy for sovereign currencies : what should government do?

Policy for full employment and price stability

Inflation and sovereign currencies

Conclusions : modern money theory for sovereign currencies

Notes

Bibliography

Index.

Notes:

Revised edition of the author's Modern money theory, 2012.

Includes bibliographical references and index.

ISBN:

9781137539908

1137539909

OCLC:

909777128