This book provides the grounding for a new approach to monetary
economics, based on the book-keeping nature of money. The main
themes of macroeconomics are examined to show how we may improve
our understanding through a thorough analysis of their monetary
aspects. Money is the key element and its role is investigated in
relation to value, prices, profits, capital and interest. Alvaro
Cencini's analysis rejects the traditional, net asset definition of
money, arguing that despite appearances to the contrary, money is
issued by banks as a mere numerical form. It is through its
association with production that it is given its positive value,
purchasing power. The resulting theory elicits a new understanding
of the conditions behind today's monetary disorders and prescribes
new remedies to cure them once and for all.
General
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