First studied by Swiss economist Jean-Charles Leonard Sismonde de
Sismondi in 1819, "Making Markets and Making Money: Strategy and
Monetary Exchange" examines the strategic aspects of monetary
exchange--specifically, of making markets.
Economist Bernard C. Beaudreau, author of "Mass Production, the
Stock Market Crash," and "The Great Depression: The Macroeconomics
of Electrification," examines the strategic aspects of making
markets using basic game theory. Drawing from the archaeological
and historical records, Beaudreau documents the prevalence of
coordination failures in trade in general, and monetary exchange in
particular. He argues, convincingly, that the ability to execute
trades (make markets) has been, is, and will continue to be a more
important economic problem that scarcity itself.
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