The Value Of Money

Download or read book The Value of Money written by Prabhat Patnaik and published by Columbia University Press. This book was released on 2009-04-02 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why is money more valuable than the paper on which it is printed? Monetarists link the value of money to its supply and demand, believing the latter depends on the total value of the commodities it circulates. According to Prabhat Patnaik, this logic is flawed. In his view, in any nonbarter economy, the value we assign to money is determined independently of its supply and demand. Through an original and provocative critique of monetarism, Patnaik advances a revolutionary understanding of macroeconomics that highlights the "propertyist" position of Karl Marx and John Maynard Keynes. Unlike the usual division between "classical" economists (e.g., David Ricardo and Marx) and the "marginalists" (e.g., Carl Menger, William Stanley Jevons, and Léon Walras), Patnaik places "monetarists," including Ricardo, on one side, while grouping propertyist writers like Marx, Keynes, and Rosa Luxemburg on the other. This second group subscribes to the idea that the value of money is given from outside the realm of supply and demand, therefore making money a form in which wealth is held. The fact that money is held as wealth in turn gives rise to the possibility of deficiency of aggregate demand under capitalism. It is no accident that this possibility was highlighted by Marx and Keynes while going largely unrecognized by Ricardo and contemporary monetarists. At the same time, Patnaik points to a weakness in the Marx-Keynes tradition namely, its lack of any satisfactory explanation of why the value of money, determined from outside the realm of supply and demand, remains relatively stable over long stretches of time. The answer to this question lies in the fact that capitalism is not a self-contained system but is born from a precapitalist setting with which it interacts and where it creates massive labor reserves that, in turn, impart stability to the value of money. Patnaik's theory of money, then, is also a theory of imperialism, and he concludes with a discussion of the contemporary international monetary system, which he terms the "oil-dollar" standard.

Download or read book The Value of Money written by Benjamin McAlester Anderson and published by Ludwig von Mises Institute. This book was released on 1917 with total page 642 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Value of Money written by Catherine Cowley and published by A&C Black. This book was released on 2006-06-02 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offers an ethical examination of global finance which is both theologically and economically literate. This book also examines the effect of money on our understanding of freedom, of the market itself and of the ethical, issues arising from this, for individuals, the sector and for society as a whole.

Download or read book The Reality of Money written by Eyja M. Brynjarsdóttir and published by Rowman & Littlefield. This book was released on 2018-10-16 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is money and how does it acquire its value? How do we assign a measurable monetary value to human goods that do not seem quantifiable? What role does money play in the structure of society? Is money an illusion or is it real? Despite the enormous impact of money on the structure of human society, as well as its effect on our daily decision-making, surprisingly little philosophical work has been done on money to date. This book examines the metaphysical foundations of money as well as the power structures that characterize the world of finance, connecting the ontology of money to considerations about inequality and other real-life issues. By throwing light on the metaphysical structure of money and financial value, Eyja M. Brynjarsdóttir seeks to further the philosophical discussion of money and contribute to a broader critique of the monetary system.

Download or read book The Time Value of Life written by Tisa L. Silver and published by iUniverse. This book was released on 2011-06-20 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: Life is treasured in minutes, hours, days, months, and years. In The Time Value of Life, author Tisa L. Silver shares how a simple decision-making rule used in nance can be applied to making decisions in other areas of lifeespecially how to wisely use the time youve been given on earth. A student-turned-professor of nance, Silver introduces the Time Value of Money (TVM) model. She uses hypothetical and real-life examples to show why time should be treated as a valuable gift and demonstrates the parallels between nance and life and between money and time. Silver advocates taking the following steps: Recognize time is a limited resource. Diversify investments. Respect time. Believe in your investments. Make collaborative investments. Understand good investments pay o. Realize the past doesnt dictate the future. Know that your future value depends on your inputs. The Time Value of Life communicates that time is more valuable than money because the value of your life depends on what you do with your time. Stop spending time; start investing it. By being careful about the way you invest your time now, you can enjoy the rewards later.

Download or read book On the Value of Money written by Paulo Casaca and published by . This book was released on 2021-01-20 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emphasis is given to the Slutsky Matrix and its associated income and substitution effects, since this is the only existing analytical tool designed to solve the question. This device is shown to be grossly erroneous. I did prove (Casaca, 2020) that the solution present in manuals and taught in economics courses is erroneous. I confirmed the original neo-classic founding father's perception that the problem lies in our inability to keep track of the changing value of money. Other than proving how wrong or useless the elucidations found afterwards are, I could not however find a solution to the problem. That is, I could not prove whether it is possible to track the changing value of money and, if it is, how to achieve this in a meaningful way - or, conversely, to prove the problem has no viable solution.Knowledge on the variation of the value of money is necessary for all the procedures that rely on the separation between 'real' and 'nominal' values - that is, virtually all economic accounting systems. This means that the most revered indicators of economic activity such as 'inflation' or 'economic growth' (GDP variation) are built on erroneous premises and lack any real and objective basis. Simply speaking, this means that the building structure of modern economics is dependent on the possibility of knowing the value of money, or at the very least the patterns of variation of the value of money. The fact that neither goals were attained saps the related scientific basis. This work will end with a discussion of possible venues for a scientific approach to the science of money, side by side with the science of markets.

Download or read book Money and Value written by Jean-Michel Grandmont and published by Cambridge University Press. This book was released on 1985-09-13 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the controversial issue of whether a competitive monetary economy has built-in price adjustment mechanisms strong enough to remove excess demands and supplies on all markets.