Value of Money

Klappentext Through an original and provocative critique of monetarism! Patnaik advances a revolutionary understanding of macroeconomics that highlights the "propertyist" position of Karl Marx and John Maynard Keynes. Unlike the usual division between "classical" economists (e.g.! David Ricardo and Marx) and the "marginalists" (e.g.! Carl Menger! William Stanley Jevons! and Léon Walras)! Patnaik places "monetarists!" including Ricardo! on one side! while grouping propertyist writers like Marx! Keynes! and Rosa Luxemburg on the other. This second group subscribes to the idea that the value of money is given from outside the realm of supply and demand! therefore making money a form in which wealth is held. The fact that money is held as wealth in turn gives rise to the possibility of deficiency of aggregate demand under capitalism.

Product details

• Authors: Prabhat Patanik, Prabhat Patnaik, Prabhat (Professor Emeritus Patnaik, Patnaik Prabhat
• Publisher: Columbia University Press
• Languages: English
• Product format: Hardback
• Released: 02.04.2009
• EAN: 9780231146760
• ISBN: 978-0-231-14676-0
• No. of pages: 280
• Subjects: Guides > Law, job, finance; Social sciences, law, business > Business > Economics; BUSINESS & ECONOMICS / Money & Monetary Policy, Monetary Economics