Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth (2007)


SKU: 9780230500556
Author: Godley, W Lavoie, M
Publication Date: 12/01/2006
Publisher: Palgrave MacMillan
Binding: Hardcover
Media: Book
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This book challenges the mainstream paradigm, based on the inter-temporal optimisation of welfare by individual agents. It introduces a methodology for studying how it is institutions which create flows of income, expenditure and production together with stocks of assets and liabilities, thereby determining how whole economies evolve through time.