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Money, Credit, and Crises: Understanding the Modern Banking System
by Nektarios MichailWhile paramount to the modern economy, understanding how the banking system works has been usually cast aside from overall economic education. Even in the aftermath of the recent financial crisis, which has underlined the vital importance of banking in the economy, the workings of the sector remain a black box. To this end, this book provides a comprehensive and easy to read review of the banking sector, covering all issues related to commercial and investment banking and providing experienced as well as non-expert readers the opportunity to expand their knowledge on these topics. After going through the book, readers have the opportunity to gain a deeper knowledge regarding the commercial and investment functions of the banking sector and the ability to evaluate the potential outcome of policy actions.
Money, Currency and Crisis: In Search of Trust, 2000 BC to AD 2000 (Routledge Explorations in Economic History)
by Bas Van Leeuwen R.J. van der SpekMoney is a core feature in all discussions of economic crisis, as is clear from the debates about the responses of the European Central Bank and the Federal Reserve Bank of the United States to the 2008 economic crisis. This volume explores the role of money in economic performance, and focuses on how monetary systems have affected economic crises for the last 4,000 years. Recent events have confirmed that money is only a useful tool in economic exchange if it is trusted, and this is a concept that this text explores in depth. The international panel of experts assembled here offers a long-range perspective, from ancient Assyria to modern societies in Europe, China and the US. This book will be of interest to students and researchers of economic history, and to anyone who seeks to understand the economic crises of recent decades, and place them in a wider historical context.
Money, Debt and Interest in Monotheistic Religions: An Etymological Approach (Islamic Business and Finance Series)
by Murat UstaoğluThis book offers a chronological account of the development of interest-bearing debt and how the issue of interest has been addressed throughout medieval and modern civilizations. It provides a review of the impact of these interest-bearing debt practices upon social relations and institutions, throughout the history of modern economics, observing the relative conditions of the time. The author asserts that the development of the concept of interest and debt can be traced through three historical periods. The first period covers measures from a more radical stance, as introduced by the Monotheistic religions, with the same foundations and principles at their core. The second period examines the arguments that justify interest-bearing debt and particularly how the stance of major religions has been translated into a basis of support for these transactions. And the final part offers a linear report of the development of interest-bearing debt and its disruptive impact throughout the history of economics from medieval times to the modern era. Initially, the book presents a conceptual framework of terms applicable to the discussions and then examines the consistency and reliability of the theological and philosophical arguments on the restrictions imposed upon the practice of interest and debt, including rigid prohibition. While the book is grounded in research that relies heavily on historical sources, it offers a contribution to the literature on economics as well, since the historical findings are analyzed in the context of economic terms and theories. An interdisciplinary effort, the book will attract the attention of those who have an interest in finance, economics, history, religion, and sociology.
Money, Debt and Politics: The Bank of Lisbon and the Portuguese Liberal Revolution of 1820 (Routledge International Studies in Money and Banking)
by José Luís CardosoThis book presents an innovative history of the first Portuguese public bank, by exploring the relationship between banking activities and the political context. It provides an overview of the origins of the banking system in Portugal, and also in Brazil, and explores new archive materials related to the first years of activity of the Bank of Lisbon and to the public debates on monetary and public finance topics. It discusses the main features of the Bank of Lisbon: a private bank with a mandate to issue banknotes for the purposes of regulating monetary circulation, and with the function of financing the State for current payments, as well as for the amortisation of public debt and the creation of new debt. The aim of contributing to the re-establishment of public trust and credit conferred upon the Bank of Lisbon the status of a quasi-central bank with the obligations of lending and issuing money. This historical case study offers new insights for a better understanding of the role of banks on the regulation of monetary circulation and on the management of sovereign debt. By stressing the relevance of the political context, it also illustrates the key issues of trust, independence and rules associated to decision-making processes in the study of European banking history. The main focus is the link between banking practices and the political environment. However, the reader will also engage in discussions on theoretical and economic policy issues on the main economic topics under survey: money, paper money, public debt and credit system.
Money, Enterprise and Income Distribution: Towards a macroeconomic theory of capitalism (Routledge Frontiers Of Political Economy Ser.)
by John SmithinMainstream neoclassical economics tells us that money is essentially a commodity, has no other social meanings or consequences, and (therefore) exists only as a medium of exchange to lubricate/facilitate barter. This book takes the view that money is definitively a social relation between private persons or legal persons. As such, it is one of
Money, Finance and Empire: 1790-1960
by A.N. Porter R.F. HollandThis book was first published in 1985.
Money, Finance, and Empire, 1790-1960
by A.N. Porter R. F Holland A. N PorterScholars have recently begun to pay renewed attention to the economics of empire, focusing in particular on the requirements of metropolitan Britain's economy and on the activities of imperial businesses. Within this broad field, financial questions, not least the subject of investment overseas or the 'export of capital', have long had a prominent place, and have been equally affected by the development of new appraoches. The consensus as to the volume and direction of Britain's overseas investments is being vigorously challenged. Technological advances have encouraged on a greatly enlarged scale the compilation and analysis of information about British investments and shareholdings abroad. The gradual easing of restrictions on business records has increased facilities for the study, especially, of imperial and colonial banking. Work on the financial policies of central governments is revealing much of interest to students of twentieth-century colonial rule and decolonization. This collection of essays brings together a selection of the latest research on these and other themes, and, for comparative purposes, includes examples of recent continental work.
Money, Greed, and God
by Jay W. RichardsDoes capitalism promote greed? Can a person follow Jesus's call to love others and also support capitalism? Was our recent economic crisis caused by flaws inherent to our free market system? Jay Richards presents a new approach to capitalism, revealing how it's fully consistent with Jesus's teachings and the Christian tradition, while also showing why this system is our best bet for renewed economic vigor. The church is bombarded with two competing messages about money and capitalism: wealth is bad and causes much of the world's suffering wealth is good and God wants you to prosper and be rich Richards exposes these myths, and other common misconceptions about capitalism, and reveals the surprising ways that capitalism is, in fact, the best system to respond to the biblical mandates of alleviating poverty and protecting the environment. Money, Greed, and God equips readers to take practical steps in their own lives to conduct business, worship God, and serve others without falling into the "prosperity gospel" trap.
Money, Greed, and God: The Christian Case for Free Enterprise
by Jay W. RichardsA prominent scholar reveals the surprising ways that capitalism is actually the best way to follow Jesus’s mandates to alleviate poverty and protect our earth.Christianity generally sees capitalism as either bad because it causes much of the world’s suffering, or good because God wants you to prosper and be rich. But there is a large, growing audience of evangelical and mainline Christians who are deeply uneasy about how to follow Jesus’s mandate to care for the poor and the environment while living with the excesses of capitalism.Now, a noted Christian scholar argues that there is a middle view that reveals Christianity cannot only accommodate capitalism, but Christian theology can help explain why capitalism works. By highlighting the most common myths committed by Christians when thinking about economics, such as “capitalism is based on greed and over consumption” or “if someone becomes rich that automatically means someone else will become poor,” Money, Guilt, and God equips readers to take practical steps in their own lives to conduct business, worship God, and serve others without falling into the “prosperity gospel” trap.
Money, Inflation and Business Cycles: The Cantillon Effect and the Economy (Routledge International Studies in Money and Banking)
by Arkadiusz SierońWho would disagree that money matters? Economists have yet to sufficiently explore issues related to monetary inflation in relation to the Cantillon effect, i.e. distribution and price effects resulting from uneven changes in the money supply and their impact on the economy. This book fills this important gap in the existing literature. The author classifies the various channels through which new money can be injected into the economy and demonstrates that it is not only the increase in money supply that is important, but also the way in which it occurs. Since the increase in money supply does not affect the cash balance of all economic entities in the same proportion and at the same time – new money is introduced into the economy through specific channels – a distribution of income and changes in the structure of relative prices and production occur. The study of money supply growth, carried out in the spirit of Richard Cantillon, offers an important analytical framework that facilitates the development of a number of sub-disciplines within economics and provides a better understanding of many economic processes. It significantly explores the theory of money and inflation, the business cycle and price bubbles, but also the theory of banking and central banking, income distribution, income and wealth inequalities, and the theory of public choice. This book is therefore an important voice in the fundamental debate on the role of monetary factors in the economy, as well as on the effects and legitimacy of a loose monetary policy. In 2017, the doctoral dissertation on which the book is based was awarded the Polish Prime Minister’s prize. In these times of non-standard monetary policy and rising income inequalities in OECD countries, the focus on the distribution effect of monetary inflation makes this a must read for researchers and policy-makers and for anyone working in monetary economics. This title was translated from Polish by Martin Turnau.
Money, Language, and Thought: Literary and Philosophic Economies From the Medieval to the Modern Era
by Marc ShellThis title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1982.
Money, Macroeconomics and Keynes: Essays in Honour of Victoria Chick, Volume 1 (Routledge Frontiers of Political Economy #Vol. 38)
by Philip Arestis, Meghnad Desai and Sheila DowThis volume, along with its companion volume, Methodology, Microeconomics and Keynes is published in honour of Victoria Chick, inspired by her own contributions to knowledge in all of these areas and their interconnections. It represents both consolidation and the breaking of new ground in Keynesian monetary theory and macroeconomics by leading figures in these fields.
Money, Mandates, and Local Control in American Public Education
by Bryan ShellyPointing to the disparities between wealthy and impoverished school districts in areas where revenue depends primarily upon local taxes, reformers repeatedly call for the centralization of school funding. Their proposals meet resistance from citizens, elected officials, and school administrators who fear the loss of local autonomy. Bryan Shelly finds, however, that local autonomy has already been compromised by federal and state governments, which exercise a tremendous amount of control over public education despite their small contribution to a school system's funding. This disproportionate relationship between funding and control allows state and federal officials to pass education policy yet excuses them from supplying adequate funding for new programs. The resulting unfunded and underfunded mandates and regulations, Shelly insists, are the true cause of the loss of community control over public education. Shelly outlines the effects of the most infamous of underfunded federal mandates, the No Child Left Behind Act of 2001 (NCLB), and explores why schools implemented it despite its unpopularity and out-of-pocket costs. Shelly's findings hold significant implications for school finance reform, NCLB, and the future of intergovernmental relations.
Money, Manifestation & Miracles: A Guide to Transforming Women’s Relationships with Money
by Meriflor ToneattoWhen women are empowered with money, they become “difference makers.” They transform not only their own lives but also those of their children, their families, and their communities at large. Author Meriflor Toneatto, an award-winning leadership and coaching executive, shows you how to extend your limits and create the life of your dreams, one that is rich and fulfilling in every way — financially, spiritually, and emotionally. This powerful book explains how money is “emotional currency” and prescribes eight Holistic Principles that help you overcome deep-seated blocks, “pay forward” your own successes, and live the life of your dreams.
Money, Markets and Capital: The Case for a Monetary Analysis (Routledge International Studies in Money and Banking)
by Jean CartelierMoney and payments are familiar to everybody. Economists however are often at a loss in assessing the extent to which money matters. As a matter of fact, money is at the origin of the main cleavage in economic theory. Beyond sophisticated models what is at stake is whether money is just an appearance which hides the essence of economic life (value and happiness of people) or, on the contrary, the very substance of economic relations, not limited to exchanges, in which power and sovereignty are ever present. In a first part, the author shows how fragile and shaky are the attempts made by value theoreticians to integrate money into their analysis. In a second part, he develops a rigorous alternative theory by giving strong logical foundations to a monetary analysis in the spirit of Keynes. Many important economic phenomena left unexplained by academic theory are accounted for (involuntary equilibrium unemployment), a new method in dynamics is resorted to (viability theory) and various economic relations are elucidated which are not reducible to exchange, the only one dealt with by academic theoreticians. This is the case of the wage relationship. Although written in view of an audience acquainted with economic theory, this book can be read nevertheless by a larger circle since the technicalities have been reduced to what is strictly necessary to understand what is at stake.
Money, Markets, and Democracy
by George BraguesThis book offers a comprehensive analysis of the ways that politics and financial markets impact one another. In this relationship, politics is the ultimate controlling force. The kinds and prices of financial instruments that get traded and the individuals and institutions that get to trade them, not to mention the rules under which everyone trades, are all matters decisively influenced by an array of political variables - sometimes for the better, but all too often for the worse. The fault for this political skewing of the markets chiefly lies with democracy. Through its commitment to equality and its inclination towards fiscal profligacy, democracy hinders the markets from acting as a greater force for social good. To fix this skewing of finance, democracy's troubling tendencies must be squarely faced and curbed by a return to its monetary roots. Democracy must reinstall gold at the monetary foundations of our financial markets.
Money, Politics and Power: Banking and Public Finance in Wartime England, 1694–96 (Financial History)
by Richard A. KleerThe Nine Years’ War with France was a period of great institutional innovation in public finance and of severe monetary turmoil for England. It saw the creation of the Bank of England; a sudden sharp fall in the external value of the pound; a massive undertaking to melt down and recoin most of the nation’s silver currency; a failed attempt to create a National Land Bank as a competitor to the Bank of England; and the ensuing outbreak of a sharp monetary and financial crisis. Histories of this period usually divide these events into two main topics, treated in isolation from one another: the recoinage debate and ensuing monetary crisis and a ‘battle of the banks’. The first is often interpreted as the pyrrhic victory of a creditor-dominated parliament over the nation’s debtors, one that led very predictably to the ensuing monetary crisis. The second has been construed as a contest between whig-merchant and tory-gentry visions of the proper place of banking in England’s future. This book binds the two strands into a single narrative, resulting in a very different interpretation of both. Parliamentary debate over the recoinage was superficial and misleading; beneath the surface, it was just another front for the battle of the banks. And the latter had little to do with competing philosophies of economic development; it was rather a pragmatic struggle for profit and power, involving interlocking contests between two groups of financiers and two sets of politicians within the royal administration. The monetary crisis of summer 1696 was not the result of poor planning by the Treasury; rather it was a continuation of the battle of the banks, fought on new ground but with the same ultimate intent – to establish dominance in the lucrative business of private lending to the crown.
Money, Power, Respect: How Women in Sports Are Shaping the Future of Feminism
by Macaela MacKenzieAn inside look at how women athletes are leading the fight for equality—on and off the field Women&’s sports receive a fraction of the airtime allotted for men&’s sports, as well as a fraction of the marketing dollars, media coverage, and training resources. For every dollar that the NBA&’s highest-paid player brings home, the WNBA&’s highest-paid player earns just half a cent. But while misogyny in sports is particularly visible, it&’s not unique. Women athletes face the same sexist barriers found in all career fields: the motherhood penalty, transphobia and misogynoir, underpromotion, and more. But women in sports are fighting back, debunking myths that women aren&’t as skilled, competitive, or capable of generating revenue as men. Drawing on exclusive interviews with prominent athletes—including Allyson Felix, Megan Rapinoe, and Billie Jean King—journalist Macaela Mackenzie shows how women are using sports as a platform for change. As women athletes push for the same things all women want in their careers—money, power, and respect—their wins are showing the rest of us what&’s possible in the fight for equality.
Money, Power, and the People: The American Struggle to Make Banking Democratic
by Christopher W. ShawBanks and bankers are hardly the most beloved institutions and people in this country. With its corruptive influence on politics and stranglehold on the American economy, Wall Street is held in high regard by few outside the financial sector. But the pitchforks raised against this behemoth are largely rhetorical: we rarely see riots in the streets or public demands for an equitable and democratic banking system that result in serious national changes. Yet the situation was vastly different a century ago, as Christopher W. Shaw shows. This book upends the conventional thinking that financial policy in the early twentieth century was set primarily by the needs and demands of bankers. Shaw shows that banking and politics were directly shaped by the literal and symbolic investments of the grassroots. This engagement remade financial institutions and the national economy, through populist pressure and the establishment of federal regulatory programs and agencies like the Farm Credit System and the Federal Deposit Insurance Corporation. Shaw reveals the surprising groundswell behind seemingly arcane legislation, as well as the power of the people to demand serious political repercussions for the banks that caused the Great Depression. One result of this sustained interest and pressure was legislation and regulation that brought on a long period of relative financial stability, with a reduced frequency of economic booms and busts. Ironically, this stability led to the decline of the very banking politics that brought it about. Giving voice to a broad swath of American figures, including workers, farmers, politicians, and bankers alike, Money, Power, and the People recasts our understanding of what might be possible in balancing the needs of the people with those of their financial institutions.
Money, Prices And Wages
by Martin Allen D’maris CoffmanNick Mayhew has made key contributions to fields as diverse as medieval European monetary history, numismatics, financial history, price and wage history, and macroeconomic history. These essays, in his honour, demonstrate the analytical power and chronological reach of the novel interdisciplinary approach he has nurtured in himself and others.
Money, Social Ontology and Law (Law and Politics)
by Maurizio Ferraris Angela Condello John Rogers SearlePresenting legal and philosophical essays on money, this book explores the conditions according to which an object like a piece of paper, or an electronic signal, has come to be seen as having a value. <P><P>Money plays a crucial role in the regulation of social relationships and their normative determination. It is thus integral to the very nature of the “social”, and the question of how society is kept together by a network of agreements, conventions, exchanges, and codes. All of which must be traced down. The technologies of money discussed here by Searle, Ferraris, and Condello show how we conceive the category of the social at the intersection of individual and collective intentionality, documentality, and materiality. All of these dimensions, as the introduction to this volume demonstrates, are of vital importance for legal theory and for a whole set of legal concepts that are crucial in reflections on the relationship between law, philosophy, and society.
Money, Stock Prices and Central Banks: A Cointegrated VAR Analysis
by Marcel WiedmannThis contribution applies the cointegrated vector autoregressive (CVAR) model to analyze the long-run behavior and short-run dynamics of stock markets across five developed and three emerging economies. The main objective is to check whether liquidity conditions play an important role in stock market developments. As an innovation, liquidity conditions enter the analysis from three angles: in the form of a broad monetary aggregate, the interbank overnight rate and net capital flows, which represent the share of global liquidity that arrives in the respective country. A second aim is to understand whether central banks are able to influence the stock market.
Money, Time and Rationality in Max Weber: Austrian Connections (Routledge Studies in the History of Economics)
by Stephen ParsonsThis unique study into the roots of Max Weber's Political Economy, is an intriguing read and a valuable contribution to the Weberian literature. Parsons argues that Weber's analysis is highly influenced by the Austrian School of Economics and the relationship between his critique of centrally planned economies and that of Mises.
Money, Trade and Economic Growth: Survey Lectures in Economic Theory (Collected Works of Harry G. Johnson)
by Harry G. JohnsonThis book deals with the effects of international trade on economic growth and money. It also re-examines Keynesian theory and analyzes economic growth in an affluent society in terms of planning, economic and social policy.
Money, Trade and Finance: Recent Trends and Methodological Issues
by Theodore Pelagidis Ioanna T. Kokores Pantelis Pantelidis Demetrius YannelisThis book analyses several aspects on the efficient resource allocation in the aftermath of the global financial crisis and the European sovereign debt crisis. The main focus of the volume is on recent European Union (EU) experience highlighting the interrelation between inherent structural rigidities and practical limitations in the conduct of sound economic policy. Special reference is made to Greece (evidencing unprecedented experience), the EU periphery countries and the US. This book will be of interest to academic and central bank researchers, business practitioners (in consultancy and finance) and graduate students, as it is a good example of how scholarly dialogue can contribute to contemporary high-quality policy debate on sound liquidity provision and financial stability in the Eurozone, as well as the effective ways to combat recession in the EU periphery countries.