In this text, the author argues that a new approach to the analysis
of bank money is needed which is capable of providing modern
analytical instruments based on the intrinsic nature of bank money.
Conventionally, monetary problems are examined with reference to a
monetary framework which has little to do with the real world of
banking. The purpose of this book is to provide an alternative
analysis to monetary economics based on the very distinctive
properties of bank money. Monetary problems are investigated from a
structural point of view. Of special interest is the distinction
made between money and income which is rooted in the everyday
practices of central and secondary banks. The book also examines
exchange rate instability and financial crisis and finally, sets
forward an alternative proposal for European Monetary Union.
General
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