The Monetary Theory of Production

1. Introduction: The Monetary Theory of Production

1. Introduction: The Monetary Theory of Production
Giuseppe Fontana, Riccardo Realfonzo

Part I. The Tradition of the Monetary Theory of Production

2. Macroeconomic Analysis and Individual Economic Rationality: Some Lessons from Wicksell, von Mises and Schumpeter
Richard Arena, Agnès Festré

3. Monetary Economics after Wicksell: Alternative Perspectives within the Theory of the Monetary Circuit
Riccardo Bellofiore

4. Lost and Found: Some History of Endogenous Money in the Twentieth Century
Victoria Chick

5. Alternative Theories of the Rate of Interest: A Reconsideration
Gunnar Heinsohn, Otto Steiger

6. An Inquiry into a Dark Mystery in the History of the Monetary Theory of Production: What Went Wrong with the Early Contribution of Joan Robinson
Alain Parguez

7. Some Reflections on Changes in Keynes’s Analysis between the Treatise and the General Theory

Malcolm Sawyer

Part II. Stocks and Flows in the Monetary Circuit

8. Single-Period Analysis: Financial Markets, Firms’ Failures and Closure of the Monetary Circuit
Marcello Messori, Alberto Zazzaro

9. The Existence of Monetary Profits within the Monetary Circuit
Louis-Philippe Rochon

10. Central Banking in a Monetary Theory of Production: The Economics of Payment Finality from a Circular-Flow Perspective
Sergio Rossi

Part III. The Monetary Circuit and Unemployment

11. Bank Mergers, Monopoly Power and Unemployment: A Monetary Circuit Approach
Guglielmo Forges Davanzati, Riccardo Realfonzo

12. Circuit Theory and the Employment Issue
Claude Gnos

Part IV. Money, Inflation and Distribution

13. Non-Credit Money to Fight Poverty
Biagio Bossone, Abdourahmane Saw

14. Towards a Non-Conventional Circuit Approach: Credit, Microcredit and Property Rights
Lilia Costabile

15. Monetary Theory of Production and Disequilibrium Inflation
Elie Sadigh

Part V. Monetary Circulation and Economic Policy

16. What is Wrong with the Euro Area Monetary Model?
Philip Arestis, Malcolm Sawyer

17. Circulation Approach and Applied Economics: Monetary Duality in Cuba
Ghislain Deleplace

18. Lessons from Asset-Based Financial Systems with Zero-Reserve Requirements
Marc Lavoie

19. Interest Rates, Interest Spreads and Monetary Circulation: Theoretical Framework and Empirical Implications for Macroeconomic Performance
Mario Seccareccia

Nyckelord: Economics, Macroeconomics/Monetary Economics//Financial Economics, Economic Theory/Quantitative Economics/Mathematical Methods