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The Creators of Inside Money

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The Creators of Inside Money

A New Monetary Theory
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Hardback
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Description

The book explores the endogenous creators of inside money, the commercial banks, and their key role in igniting the 2007-8 monetary crisis and the aftermath of the Great Recession. This is an area of study overlooked by the traditional approach in the form of neo-classical analysis, a body of theory based on a barter system of exchange. Money has evolved from a construct of barter to become a medium of exchange based on fiat money and loan creation by the banking system, underpinned by legal tender, and therefore, a creature of law. It is not a phenomenon exogenously controlled by the monetary authorities and simply assumed to be a "veil" over the real economy, which just determines the absolute price level. This monograph, in the eyes of the student, represents critical thinking and the realization of a more precise formulation of the endogenous money supply with various features systematically added in an attempt to derive a fully dynamic model of the monetary system, which will be straightforward to visualize and contrast with the benchmark approach.

Author Biography

D. Gareth Thomas is a Senior Lecturer in Economics at the University of Hertfordshire where he has been since 1990. He received a BA (Hons.) degree in Social Sciences from the Central London Polytechnic (now the University of Westminster), and a MSc degree in Economics from Birkbeck College, University of London, alongside a Postgraduate Certificate in Education from St. Mary's College, Institute of Education, University of London. Finally, he received a PhD in the econometric modelling of real investment from the University of Hertfordshire. Prior to joining the Hertfordshire Business School, he was a schoolteacher and the Head of Economics at Longdean School, Hemel Hempstead. His research interests include econometrics and monetary and health economics. He is the author of a number of research articles and has presented at numerous conferences. In 2010, he was highly commended for teaching excellence as Tutor of the Year by the University of Hertfordshire.
Release date NZ
July 12th, 2018
Audience
  • Professional & Vocational
Country of Publication
Switzerland
Edition
1st ed. 2018
Illustrations
37 Illustrations, black and white; XXIII, 167 p. 37 illus.
Imprint
Springer International Publishing AG
Pages
167
Publisher
Springer International Publishing AG
ISBN-13
9783319902562
Product ID
27803907

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