Money, Enterprise and Income Distribution: Towards a macroeconomic theory of capitalism, 1st Edition (Paperback) book cover

Money, Enterprise and Income Distribution

Towards a macroeconomic theory of capitalism, 1st Edition

By John Smithin


240 pages | 32 B/W Illus.

Purchasing Options:$ = USD
Paperback: 9780415197748
pub: 2010-04-15
Hardback: 9780415197731
pub: 2008-07-17

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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

About the Author

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

About the Series

Routledge Frontiers of Political Economy

In recent years, there has been widespread criticism of mainstream economics. This has taken many forms, from methodological critiques of its excessive formalism, to concern about its failure to connect with many of the most pressing social issues. This series provides a forum for research which is developing alternative forms of economic analysis. Reclaiming the traditional 'political economy' title, it refrains from emphasising any single school of thought, but instead attempts to foster greater diversity within economics.

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Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Economics / General