ebook ebooks e-book e-books downloaden bei MyEbooks.ch downloaden

Capital, Accumulation, and Money An Integration of Capital, Growth, and Monetary Theory

:	Lester D. Taylor
:	Capital, Accumulation, and Money An Integration of Capital, Growth, and Monetary Theory
:	Springer-Verlag
:	9780387981697
:	2
:	CHF 131.80
:

:	Volkswirtschaft
:	English

:	278
:	Wasserzeichen
:	PC/MAC/eReader/Tablet
:	PDF

Capital, Accumulation, and Money: An Integration of Capital, Growth, and Monetary Theory is a book about capital and money. A root concept of capital is formulated that allows for most existing concepts of capital to be unified and related to one another in consistent fashion. Capital and monetary theory are integrated in a non-mathematical framework that imposes a number of constraints on the macro behavior of an economy, constraints which make for the straightforward understanding of such concepts as the real stock of money, real-balance effects, and the general price level. New and illuminating insights are also provided into aggregate supply and demand, natural and money rates of interest, the relationship between real and monetary economies, and economic growth and development. This fully expanded, revised, and updated edition features important new material on a variety of timely topics, including: * Factors leading to the financial meltdown and turmoil of 2007-09; * Why bubbles form in asset markets and how these impact on the real economy; * The importance of a lender-of-last-resort in times of financial stress; * Future financing and funding of the U. S. Social Security System. Additionally, the author offers a number of ideas for alleviating the severity, if not the avoidance altogether, of financial crises in the future. This is a book for those -- students (both graduate and undergraduate) and their teachers, investors, and the informed public -- who want an understanding of how economies and financial markets function, without an advanced degree in mathematics.

	Preface to First Edition	8
	Preface to Second Edition	14
	Prologue	16
	Contents	24
	List of Figures	28
	Chapter 1: Premises and an Overview	30
	Chapter 2: Myros and Other Concepts and Definitions	36
	Myros	37
	Myros Recovery Charges	40
	Human and Nonhuman Capital	41
	Chapter 3: The Macroeconomic Framework	45
	An Overview	45
	Constraints (or ``Conservation Laws´´) Imposed by the Pool of Fluid Capital	50
	The Determination of Asset Values	53
	Aggregate Demand and Supply	56
	Macroeconomic Equilibrium	57
	Chapter 4: Interest and Money	59
	Factors Making for the Existence of Interest	60
	Determination of Money and Natural Rates of Interest	61
	A World with Fiat Money	69
	The Concept of Velocity and the Demand for Money	71
	Power of the Monetary Authority	73
	The Commercial Paper Market	74
	Some Notes on Monetary Policy	75
	Chapter 5: Production and Investment	77
	Capital and Production	77
	From Production to Investment	80
	Roles of the Money and Natural Rates of Interest	90
	Financing of Investment: An Illustration	90
	Chapter 6: General Price Level and Inflation	92
	Defining the General Price Level	92
	Problems Arising from Excessive Monetization of Assets	99
	The General Price Level and the Natural Rate of Interest	102
	Equilibrium in the Natural and Money Rates of Interest	103
	Chapter 7: Capital Values, Wealth, and Related Topics	106
	The Aggregate Wealth of an Economy	106
	Money as Wealth and Real-Balance Effects	107
	Some Implications of Old Masters as a Store of Value	108
	Taxation of Capital Gains	110
	Forced Saving and Investment	112
	More on Excess Monetization of Assets	114
	Loan Defaults and the Stock of Money	115
	Crowding-Out	116
	Burden of the National Debt	119
	Ricardian Equivalence	120
	Commodity Money	121
	Fluid Capital and the Gold Standard	122
	Demonetization and Monetization of Economies	125
	Economic Growth with Deflation: The Period 1873-1896 in the USA	128
	Chapter 8: Macroeconomic Equilibrium and Employment	130
	Chapter 9: Capital Theory in Perspective	139
	Schumpeter	139
	Keynes	142
	Irving Fisher	143
	Böhm-Bawerk	144
	Jevons and Wicksell	145
	Capital as Embedded (or Stored) Labor	146
	Capital Theory as the Economics of Time	147
	Capital Accounting	149
	Capital and Nonrenewable Natural Resources	152
	Chapter 10: Opportunity and Sunk Costs	154
	Opportunity Costs	154
	The Measurement of Unit Incremental Cost	156
	Sunk Costs	157
	Chapter 11: Trade, Transfers, and Monetary Overhangs	160
	Trade and Exchange Rates	160
	Monetary Overhangs and Capital Levies	162
	Wealth Transfers and Monetary Overhangs: A Stylized Analysis	164
	Policies for Eliminating a Monetary Overhang: The Case of German Reunification	171
	The German Reunification: An Assessment	175
	Chapter 12: Questions Related to Consumption and Saving	177
	The Macroeconomics of Retirement Saving and Consumption	177
	Questions Related to Position Goods	179
	Questions Related to Engel Curves and Income Elasticities	181
	The Hierarchical Nature of the Pool of Fluid Capital	183<