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Author: L. Albert Hahn
Publisher: Ludwig von Mises Institute
ISBN: 1610164660
Category : Economics
Languages : en
Pages : 283
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Book Description
Author: L. Albert Hahn
Publisher: Ludwig von Mises Institute
ISBN: 1610164660
Category : Economics
Languages : en
Pages : 283
Get Book Here
Book Description
Author: L. Albert Hahn
Publisher:
ISBN:
Category : Economics
Languages : en
Pages :
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Book Description
Author: Scott Sumner
Publisher: University of Chicago Press
ISBN: 0226826562
Category : Business & Economics
Languages : en
Pages : 415
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Book Description
The first book-length work on market monetarism, written by its leading scholar. Is it possible that the consensus around what caused the 2008 Great Recession is almost entirely wrong? It’s happened before. Just as Milton Friedman and Anna Schwartz led the economics community in the 1960s to reevaluate its view of what caused the Great Depression, the same may be happening now to our understanding of the first economic crisis of the 21st century. Foregoing the usual relitigating of problems such as housing markets and banking crises, renowned monetary economist Scott Sumner argues that the Great Recession came down to one thing: nominal GDP, the sum of all nominal spending in the economy, which the Federal Reserve erred in allowing to plummet. The Money Illusion is an end-to-end case for this school of thought, known as market monetarism, written by its leading voice in economics. Based almost entirely on standard macroeconomic concepts, this highly accessible text lays the groundwork for a simple yet fundamentally radical understanding of how monetary policy can work best: providing a stable environment for a market economy to flourish.
Author: Ludwig Albert Hahn
Publisher:
ISBN:
Category :
Languages : en
Pages : 273
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Book Description
Author: Robert Kuttner
Publisher: University of Pennsylvania Press
ISBN: 9780812212402
Category : Business & Economics
Languages : en
Pages : 328
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Book Description
In The Economic Illusion Robert Kuttner sets out to refute the conventional view that a more egalitarian distribution of income and services is only achievable at the expense of a prosperous and growing capitalism. By carefully examining issues where economic growth and social justice appear to be in conflict—issues such as social security, protectionism, income taxation, and welfare—he convincingly argues that equality and economic prosperity are not mutually exclusive pursuits. As a means to reconcile equality with efficiency—i.e., prosperity—Kuttner argues for economic polices that would deemphasize private markets, for an increase in trade protection, and for an adapted version of the technical approaches of such countries as Sweden, Germany, Austria, and Japan. Kuttner concludes his arguments with the suggestion that injustice is not necessarily an economic issue and that practical social alternatives are possible.
Author: Fred L. Block
Publisher: Univ of California Press
ISBN: 0520959078
Category : Business & Economics
Languages : en
Pages : 234
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Book Description
Virtually everyone—left, right, and center—believes that capitalist economies are autonomous, coherent, and regulated by their own internal laws. This view is an illusion. The reality is that economies organized around the pursuit of private profit are contradictory, incoherent, and heavily shaped by politics and governmental action. But the illusion remains hugely consequential because it has been embraced by political and economic elites who are convinced that they are powerless to change this system. The result is cycles of raised hopes followed by disappointment as elected officials discover they have no legitimate policy tools that can deliver what the public wants. In Capitalism, leading economic sociologist Fred L. Block argues that restoring the vitality of the United States and the world economy can be accomplished only with major reforms on the scale of the New Deal and the post–World War II building of new global institutions.
Author: Ludwig Albert Hahn
Publisher:
ISBN:
Category :
Languages : en
Pages : 273
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Book Description
Author: Irving Fisher
Publisher: Simon and Schuster
ISBN: 1627939997
Category : Business & Economics
Languages : en
Pages : 152
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Book Description
In economics, money illusion refers to the tendency of people to think of currency in nominal, rather than real, terms. In other words, the numerical/face value (nominal value) of money is mistaken for its purchasing power (real value). This is false, as modern fiat currencies have no inherent value and their real value is derived from their ability to be exchanged for goods and used for payment of taxes. The term was coined by John Maynard Keynes in the early twentieth century. Almost every one is subject to the "Money Illusion" in respect to his own country's currency. This seems to him to be stationary while the money of other countries seems to change. It may seem strange but it is true that we see the rise or fall of foreign money better than we see that of our own.-IRVING FISHER
Author: Joseph Heath
Publisher: HarperCollins Canada
ISBN: 1554687691
Category : Social Science
Languages : en
Pages : 390
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Book Description
Economists have a bad reputation. Not only do they assume that everyone is self-interested and amoral, they are almost always cheerleaders for the free market. As a result, most people who do not already share their beliefs ignore everything that economists have to say. This is a problem. Even among the highly educated, economics is a minefield of fallacies and errors. Among those who know little about the subject—a group that includes the average taxpayer and consumer, as well as most journalists, political activists and politicians—almost every widely held belief is false. The level of economic illiteracy is stunning. Filthy Lucre aims to level the playing field and, in this time of enormous market volatility and unprecedented instability, raise our level of economic literacy. Drawing on everyday examples to skewer the six favourite economic fallacies of the right and then the left, we learn why the right wing so wrongly believes that capitalism is the natural order of things, that any tax cut is a good tax cut, and that personal responsibility can solve any problem. And, contrary to how the left feels, why we must resist the urge to fiddle with prices, why the pursuit of profit is not such a bad thing, and why, despite efforts to improve or even fix wages, some jobs will always suck.
Author: Helena Chytilova
Publisher: Routledge
ISBN: 1315304457
Category : Business & Economics
Languages : en
Pages : 212
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Book Description
The concept of money illusion, a recently resurrected phenomenon of behavioral economics, is a real fact of economic life, the potential role of which should no longer be dismissed. Despite money illusion being utterly suppressed by mainstream economists, small deviations from rationality, together with trends in behavioral economics, alleviate the denial of money illusion induced by the rational expectations revolution. This book argues that money illusion seems to be a ubiquitous phenomenon, affecting various areas such as financial markets, housing markets, labor markets, consumption-saving decisions, and even development at the aggregate level induced by coordination issues. Furthermore, in light of the educational efforts of central banks and other institutions, it is worth considering whether solid economic training would provide guidance for the public regarding their decision-making and thereby alleviate the effects of money illusion. The emerging field of experimental economics provides a unique opportunity for us to verify the presence of money illusion. Specifically, attention is devoted to the experimental investigation of reduction in the direct and indirect effects of money illusion with respect to the level of economic literacy acquired through economic education. Economic Literacy and Money Illusion will be of interest to the general audience and to those who are interested in behavioral economics, economics education, and experimental economics, as well as to policy makers and institutions. Last but not least, it will help develop students’ interest in alternative economic theories. NB. The research and writing of this book was made possible with the support of the University of Economics, Prague, Faculty of Economics, Department of Economics.
