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The State, The Market And The Euro |
Edited by Stephanie A. Bell, Assistant Professor of Economics, University of Missouri, Kansas City, US and Edward J. Nell, Malcolm B. Smith Professor of Economics, Graduate Faculty, New School University, US
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| 2003 |
224 pp |
Hardback |
978 1 84376 156 3 |
£65.00 |
on-line discount
£58.50 |
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‘. . . very rich and enlightening. . . For everyone interested in monetary history, The State, the Market and the Euro represents without any doubt a reference to know and to study.’
– Ziet Ben Hmida, Oeconomicus
Is the theory of money that underlies most modern macroeconomics well-grounded? What determines the value of a currency, and how is the state’s power over its currency related to its ability to stabilize prices and employment? Charles Goodhart’s classic paper ‘The Two Concepts of Money: Implications for the Analysis of Optimal Currency Areas’ which first raised these questions is reprinted here, and the distinguished authors expand its line of argument and comment on its central themes. The issues discussed are of fundamental importance in contemporary monetary theory and policy.
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Contents: Preface 1. The Two Concepts of Money: Implications for the Analysis of Optimal Currency Areas 2. Mr Goodhart and the EMU 3. The Creditary / Monetarist Debate in Historical Perspective 4. Some Limitations of the Chartalist Perspective: A Comment on ‘The Two Concepts of Money’ 5. The Neo-Chartalist Approach to Money 6. Nominal Money, Real Money and Stabilization 7. Money as a Social Institution: A Heterodox View of the Euro 8. Neglected Costs of Monetary Union: The Loss of Sovereignty in the Sphere of Public Policy 9. A Reply to the Contributors Index
Contributors: S.A. Bell, C.A.E. Goodhart, R. Guttman, E. Helleiner, M. Hudson, P. Mehrling, E.J. Nell, L.R. Wray
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