1st Edition

Bernard Schmitt’s Quantum Macroeconomic Analysis

By Alvaro Cencini Copyright 2023
482 Pages 58 B/W Illustrations
by Routledge

482 Pages 58 B/W Illustrations
by Routledge

482 Pages 58 B/W Illustrations
by Routledge

The aim of Bernard Schmitt’s analysis of the monetary economy of production was twofold: to introduce and to explain the logical character of the macroeconomic laws governing our economies and to explain the origin of the pathologies that follow if these laws are not complied with. Schmitt’s main original contributions concern the theories of value, profit, and capital, as well as his explanation... Read more

Foreword: A biographical note on Bernard Schmitt

Introduction

PART I - 19591987: The years of Schmitt’s greatest insights

A. From money to capital

1 The discovery of the true nature of money and the origin of its purchasing power

2 The building blocks of a theory of national money: from Monnaie, salaires et profits (1966) to Théorie unitaire de la monnaie, nationale et internationale (1975)

3 Schmitt’s critical analysis of neoclassical, Keynesian, Marxian, and Sraffian economics from 1959 to 1988

4 1979–1984: The discovery of quantum time

5 Quantum economics and capital

6 Schmitt’s 1984 explanation of inflation and unemployment and the principles of his 1984 reform

B. From national to international money

7 International payments as a cause of monetary disorders

8 Schmitt’s first proposals for a world monetary reform

9 Schmitt’s contribution to the debate on European monetary unification: 1975–1988

PART II - 19871998: The years of further in-depth analysis

10 1987–1995: Schmitt’s first extended analysis of countries’ external debt

11 The analysis of capital and interest based on Schmitt’s unpublished manuscripts of 1993–1996

12 Schmitt’s new analysis of unemployment: his 1998 contribution

13 The development of Schmitt’s criticism of general equilibrium analysis

14 From capitalism to post-capitalism

PART III - 19992014: The final years of groundbreaking analysis

15 Towards the ‘interest theorem’: the double cost of interest payments

16 The final criticism of general equilibrium analysis

17 The discovery of the pathological nature of countries’ sovereign debt (2010–2014)

18 The one-country solution to the sovereign debt problem

Conclusion

Biography

Alvaro Cencini is Emeritus Professor of Economics, University of Lugano (USI), Switzerland.