This book provides a comprehensive survey of the major developments in monetary theory and policy from David Hume and Adam Smith to Walter Bagehot and Knut Wick

This book provides a new methodological approach to money and macroeconomics. Realizing that the abstract equilibrium models lacked descriptions of fundamental

An “intriguing plan” addressing shadow banking, regulation, and the continuing quest for financial stability (Financial Times). Years have passed since the

In mainstream economic theory money functions as an instrument for the circulation of commodities or for keeping a stock of liquid wealth. In neither case is it

This book presents an alternative approach to monetary theory that differs from the General Theory of Keynes, the Monetarism of Friedman, and the New Classicism