Where Does Money Come From? (English Edition)
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Where Does Money Come From? (English Edition) Télécharger PDF gratuit Livre (PDF, EPUB, KINDLE)
de Josh Ryan-Collins
3.7 étoiles sur 5 de 100 Commentaires client
Télécharger Where Does Money Come From? (English Edition) Ebook Livre Gratuit - décharger - pdf, epub, Kindle mobi [Télécharger] Where Does Money Come From? (English Edition) en Format PDF [Télécharger] le Livre Where Does Money Come From? (English Edition) en Format PDF Télécharger Where Does Money Come From? (English Edition) Ebook Gratuit Livre - (PDF, EPUB, KINDLE)
Broché : 184 pagesAuteur : Josh Ryan-Collins
Collection : Business & Investing
ISBN-10 :
Format : Ebook Kindle
Date de Publication : 2013-09-24
Le Titre Du Livre : Where Does Money Come From? (English Edition)
Moyenne des commentaires client : 3.7 étoiles sur 5 100 commentaires client
Nom de fichier : where-does-money-come-from-english-edition.pdf
La taille du fichier : 28.59 MB
Where Does Money Come From? reveals how, contrary to public perception, the bulk of today's money supply is created and allocated by commercial banks in their role as providers of credit. The authors argue that this system is inherently unstable, with little effective regulation of how much credit is provided or whether it is used for productive or speculative purposes. Based on detailed research and consultation with experts, including from the Bank of England, Where Does Money Come From? reviews theoretical and historical debates on the nature of money and banking and explains the role of the central bank, the Government and the European Union. This Second edition includes new sections on Libor and quantitative easing in the UK and the sovereign debt crisis in Europe.
Praise for Where Does Money Come From?
“Refreshing and clear. The way monetary economics and banking is taught in many – maybe most - universities is very misleading and what this book does is help people explain how the mechanics of the system work”.
David Miles, Monetary Policy Committee, Bank of England
“It is amazing that more than a century after Hartley Withers’s The Meaning of Money and 80 years after Keynes’s Treatise on Money, the fundamentals of how banks create money still need to be explained. Yet there plainly is such a need, and this book meets that need, with clear exposition and expert marshalling of the relevant facts. Warmly recommended to the simply curious, the socially concerned, students and those who believe themselves experts, alike. Everyone can learn from it“.
Victoria Chick, Emeritus Professor of Economics, University College London.
I used Where Does Money Come From? as the core text on my second year undergraduate module in Money and Banking. The students loved it. Not only does it present a clear alternative to the standard textbook view of money, but argues it clearly and simply with detailed attention to the actual behaviour and functioning of the banking system. Highly recommended for teaching the subject. Dr Andy Denis, Director of Undergraduate Studies, Economics Department, City University, LondonRang parmi les ventes Amazon: #195335 dans eBooksPublié le: 2013-09-24Sorti le: 2013-09-24Format: Ebook KindlePrésentation de l'éditeurWhere Does Money Come From? reveals how, contrary to public perception, the bulk of today's money supply is created and allocated by commercial banks in their role as providers of credit. The authors argue that this system is inherently unstable, with little effective regulation of how much credit is provided or whether it is used for productive or speculative purposes. Based on detailed research and consultation with experts, including from the Bank of England, Where Does Money Come From? reviews theoretical and historical debates on the nature of money and banking and explains the role of the central bank, the Government and the European Union. This Second edition includes new sections on Libor and quantitative easing in the UK and the sovereign debt crisis in Europe.Praise for Where Does Money Come From?“Refreshing and clear. The way monetary economics and banking is taught in many – maybe most - universities is very misleading and what this book does is help people explain how the mechanics of the system work”.David Miles, Monetary Policy Committee, Bank of England“It is amazing that more than a century after Hartley Withers’s The Meaning of Money and 80 years after Keynes’s Treatise on Money, the fundamentals of how banks create money still need to be explained. Yet there plainly is such a need, and this book meets that need, with clear exposition and expert marshalling of the relevant facts. Warmly recommended to the simply curious, the socially concerned, students and those who believe themselves experts, alike. Everyone can learn from it“.Victoria Chick, Emeritus Professor of Economics, University College London. I used Where Does Money Come From? as the core text on my second year undergraduate module in Money and Banking. The students loved it. Not only does it present a clear alternative to the standard textbook view of money, but argues it clearly and simply with detailed attention to the actual behaviour and functioning of the banking system. Highly recommended for teaching the subject. Dr Andy Denis, Director of Undergraduate Studies, Economics Department, City University, LondonPrésentation de l'éditeurWhere Does Money Come From? reveals how, contrary to public perception, the bulk of today's money supply is created and allocated by commercial banks in their role as providers of credit. The authors argue that this system is inherently unstable, with little effective regulation of how much credit is provided or whether it is used for productive or speculative purposes. Based on detailed research and consultation with experts, including from the Bank of England, Where Does Money Come From? reviews theoretical and historical debates on the nature of money and banking and explains the role of the central bank, the Government and the European Union. This Second edition includes new sections on Libor and quantitative easing in the UK and the sovereign debt crisis in Europe.Praise for Where Does Money Come From?“Refreshing and clear. The way monetary economics and banking is taught in many – maybe most - universities is very misleading and what this book does is help people explain how the mechanics of the system work”.David Miles, Monetary Policy Committee, Bank of England“It is amazing that more than a century after Hartley Withers’s The Meaning of Money and 80 years after Keynes’s Treatise on Money, the fundamentals of how banks create money still need to be explained. Yet there plainly is such a need, and this book meets that need, with clear exposition and expert marshalling of the relevant facts. Warmly recommended to the simply curious, the socially concerned, students and those who believe themselves experts, alike. Everyone can learn from it“.Victoria Chick, Emeritus Professor of Economics, University College London. I used Where Does Money Come From? as the core text on my second year undergraduate module in Money and Banking. The students loved it. Not only does it present a clear alternative to the standard textbook view of money, but argues it clearly and simply with detailed attention to the actual behaviour and functioning of the banking system. Highly recommended for teaching the subject. Dr Andy Denis, Director of Undergraduate Studies, Economics Department, City University, London
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2 internautes sur 3 ont trouvé ce commentaire utile.Socialization of credit as a panacea...Par Gu Si FangThe authors present just another chartalist theory of money and advocate a regime of credit expansion by central banks, planned and allocated by governments. According to them, such a regime, similar to financial repression, is not inflationary, eliminates public deficit, suppresses asset bubbles (not to mention unemployment) and poses absolutely no problem whatsoever in terms of resource allocation.“The total quantity of credit creation and the quality of its use (i.e. the allocation of credit for different types of use) are key variables that economic policymakers should monitor and, indeed, seek to control.”“The central bank determines desired nominal GDP growth, then calculates the necessary amount of credit creation to achieve this and then allocates this credit creation both across the various types of banks and across industrial sectors.”“It is difficult or impossible to obtain bank credit for large-scale, purely speculative transactions. Likewise, it is difficult to obtain consumer loans on a significant scale.”“Banks are recognised to be public utilities.”“Assuming government and the financial sector invest money in an equally productive manner, which we define here as resulting in GDP-related transactions, pure fiscal policy that is not connected to changes in monetary factors will be growth-neutral.”“However, the assumption that government and private sector investment are equally productive is unlikely to hold true in the real world. Government borrowing can be expansionary if the Government uses the money more productively than the original private investment (!) holders would have done.”This was the dream of Keynes (1936) and the nightmare of Mises (1920). Yet the authors cite the Asian dragons miracles as examples of successful policies of this kind. There was also such a regime in France during the "trente glorieuses", and it has its nostalgics. Suffice it to remember the poor shape of the French capital markets in the 1970s after this kind of treatment. Yet, capital allocation was so easy then, since so much had been destroyed by two world wars, that even government couldn't mess it up completely. Or Japan. Or China...The “solution” part is therefore appalling.There remains the first part of the book, which is correct: under the current monetary institutions, bank regulation will consistently fail to limit credit expansion and misallocation. The authors rightly criticize the belief that banks could create and invest credit money while avoiding moral hazard when there is a central bank to bail them out and facilite coordinated credit expansion.
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