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Books > Business & Economics > Economics > Macroeconomics
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Money - Understandings and Misunderstandings (Paperback, 1st ed. 2020)
Loot Price: R3,108
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Money - Understandings and Misunderstandings (Paperback, 1st ed. 2020)
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This book clarifies some misunderstandings about money by tying the
concept of money to the goods and services sector of the economy.
In addition, it demystifies the process of money creation on the
part of central banks. The phenomenon of money is ubiquitous; it
has been around for tens of thousands of years, if not longer.
Indeed, no modern economy could function without money. For many,
however, the concept of money remains elusive. Worse still,
misinformation abounds, which leaves the uninitiated vulnerable to
fraud. This lack of understanding has serious policy implications
as well. When policymakers lack a firm grasp of the concept, policy
is likely to be flawed and its effects are likely to be detrimental
to the body politic. After providing a brief history of money, the
author details the role of money in the division of labor and
specialization, in economic growth, and in an interconnected world.
Throughout the book, he points out the pitfalls of fallacious
thinking. In recent policy debates, such thinking has led to
proposals ranging from the re-institution of the gold standard to
supplying limitless money as suggested by Modern Monetary Theory.
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