The shackling of free money: lessons from Parguez and Argentina

Wesley C. Marshall
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Wesley C. Marshall: Metropolitan Autonomous University

Review of Keynesian Economics, 2014, vol. 2, issue 1, 71-86

Abstract: During the ongoing financial crisis in the North Atlantic, the central role that money plays in monetary production economies is undergoing fundamental changes. Specifically, traditional money-creating institutions, both public and private, increasingly eschew the fulfillment of aggregate demand for money. The implications of this development are wide-reaching, both in terms of academic debate and the quickly evolving international monetary system. Based on Alain Parguez's insights and the monetary transformation of Argentina a decade ago, this article will present several initial conclusions regarding the changing role of money in current western capitalism.

Keywords: endogenous money; monetarist counter-revolution (search for similar items in EconPapers)
JEL-codes: E4 P16 (search for similar items in EconPapers)
Date: 2014
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