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Bernard Schmitt's Quantum Macroeconomic Analysis (Hardcover)
Loot Price: R4,145
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Bernard Schmitt's Quantum Macroeconomic Analysis (Hardcover)
Series: Routledge Frontiers of Political Economy
Expected to ship within 12 - 19 working days
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The aim of Bernard Schmitt's analysis of the monetary economy of
production was twofold: to introduce and to explain the logical
character of the macroeconomic laws governing our economies and to
explain the origin of the pathologies that follow if these laws are
not complied with. Schmitt's main original contributions concern
the theories of value, profit, and capital, as well as his
explanation of inflation, unemployment and international payments,
unified as quantum macroeconomic analysis. This book expounds on
the key principles of quantum macroeconomic analysis as he
conceived and developed them. Schmitt's starting point was the
analysis of bank money and the way it is associated with produced
output. His macroeconomics was not founded on microeconomics nor
derived from the aggregation of microeconomic variables. Schmitt's
theory does not rely on mathematics and modelling either; instead,
it is based on logical laws derived from the nature of money and
monetary payments. Part I of this book deals with the quantum
macroeconomic analysis of capitalism and its pathologies developed
by Schmitt and provides the elements necessary to understand its
'structural' mechanism. Parts II and III deal with the principles
of two reforms that enable the passage from capitalism to
post-capitalism and from the present non-system of international
payments to an orderly system. This book provides essential reading
for all those interested in heterodox approaches to macroeconomics,
monetary economics, banking, international economics, and the
history of economic thought.
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