The Creators of Inside Money

A New Monetary Theory

Authors: Thomas, D. Gareth

  • Develops a new monetary model
    Builds on existing theory
    Supported by international case studies

Buy this book

eBook $84.99
price for USA in USD (gross)
  • ISBN 978-3-319-90257-9
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $109.99
price for USA in USD
  • ISBN 978-3-319-90256-2
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

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.


About the authors

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.


Table of contents (10 chapters)

  • The Need for a Financial System?

    Thomas, D. Gareth

    Pages 1-14

  • The Money Supply

    Thomas, D. Gareth

    Pages 15-28

  • The Adjustment Process of the Money Multiplier and the Loanable Funds Model

    Thomas, D. Gareth

    Pages 29-42

  • The Demand for Money: Another Piece of the Jigsaw Puzzle

    Thomas, D. Gareth

    Pages 43-62

  • The Rate of Interest and the New Monetary Theory of Loanable Funds

    Thomas, D. Gareth

    Pages 63-76

Buy this book

eBook $84.99
price for USA in USD (gross)
  • ISBN 978-3-319-90257-9
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $109.99
price for USA in USD
  • ISBN 978-3-319-90256-2
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Loading...

Recommended for you

Loading...

Bibliographic Information

Bibliographic Information
Book Title
The Creators of Inside Money
Book Subtitle
A New Monetary Theory
Authors
Copyright
2018
Publisher
Palgrave Macmillan
Copyright Holder
The Editor(s) (if applicable) and The Author(s)
eBook ISBN
978-3-319-90257-9
DOI
10.1007/978-3-319-90257-9
Hardcover ISBN
978-3-319-90256-2
Edition Number
1
Number of Pages
XXIII, 167
Number of Illustrations and Tables
37 b/w illustrations
Topics