 Semyon Falkner and the Modern Monetary Theory: Contributions to the Russian Tradition in the Theory of MoneyСемён Фалькнер и современная денежная теория: вклад в российскую традицию теории денегN. Nenovsky ()
Post-Print from HAL Abstract: This paper investigates the monetary theory of Semyon Falkner (1890–1938), initially recognized in the early Bolshevik era as the Theory of the Emission Economy (Teoriya emissionnogo khozyaystva). Remarkably, Falkner's theory can be viewed as an early precursor to the Modern Monetary Theory (MMT), which gained popularity in recent decades. The paper begins by presenting Falkner's perspectives, delving into the controversies surrounding his theory, including reactions from Lenin, and examining the dynamics of inflation and monetary reform. A comparative analysis of the Theory of Emission Economy and MMT follows, revealing that Falkner articulated the fundamental tenets of MMT a century ago. The paper concludes by addressing the modifications to Falkner's theory during the years of the planned socialist economy, illustrating the prevalence of the nominalist tradition in the Russian theory of money. Keywords: monetary theory; MMT; theory of emission economy; S. Falkner; денежная теория; СДТ; теория эмиссионного хозяйства; С. А. Фалькнер (search for similar items in EconPapers) Published in AlterEconomics, 2024, 21 (1), pp.29-57. ⟨10.31063/AlterEconomics/2024.21-1.4⟩ There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05022759 DOI: 10.31063/AlterEconomics/2024.21-1.4 Access Statistics for this paper More papers in Post-Print from HAL |
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