1st Edition

Money, Enterprise and Income Distribution
Towards a macroeconomic theory of capitalism

ISBN 9780415197748
Published April 15, 2010 by Routledge
240 Pages - 32 B/W Illustrations

USD $62.95

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Book Description

Mainstream neoclassical economics tells us that money is essentially a commodity, has no other social meanings or consequences, and (therefore) exists only as a medium of exchange to lubricate/facilitate barter. This book takes the view that money is definitively a social relation between private persons or legal persons. As such, it is one of the main building blocks of the complex structure of social relations of capitalism itself.

Table of Contents

1. Money and alternative visions of capitalism, 2. Economics and politics, 3. Methodological issues in monetary research, 4. The role of money in the economy, 5. The determination of interest rates, 6. A theory of profit, 7. A theory of wages, 8. Effective demand, income distribution, and economic growth, 9. Endogenous money, monetary policy and inflation, 10. A complete macroeconomic model of output growth, inflation, and income distribution, 11. Notes on fiscal policy and the public finances, 12. Concluding remarks


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John Smithin is Professor of Economics in the Department of Economics and the Schulich School of Business, York University, Toronto, Canada