The Political Economy and Feasibility of Bitcoin and Cryptocurrencies

Spencer J. Pack

in Books from Edward Elgar Publishing

Abstract: In The Political Economy and Feasibility of Bitcoin and Cryptocurrencies Spencer J. Pack brings his authority as a scholar and entrepreneur advisor to this study of bitcoin and cryptocurrencies from the perspective of the history of economic thought. Major theorists analyzed in depth include Aristotle, Smith,Law, Marx, Keynes, Rothbard and Hayek, and the book draws extensively upon the ideas of Schumpeter, Galbraith and Sraffa. The book argues for reconceptualization of the basic microeconomic categories into rental, sale, and financial asset prices along with a reconsideration of Keynes’ general theory to his special theory and Rothbard’s relationship to Rousseau. The author posits that intense theoretical and practical struggles will continue over who should control the quantity of money, the cause of the capitalist economy’s instability, and who or what is more dangerous- concentrated centers of private wealth and private enterprises or the contemporary state.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2022
ISBN: 9781803920931
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Chapters in this book:

Ch 1 Introduction to The Political Economy and Feasibility of Bitcoin and Cryptocurrencies , pp 2-4

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Ch 2 Aristotles (384-322 bce) seminal contributions to the economics tradition , pp 5-12

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Ch 3 Adam Smith (1723-1790) on money , pp 13-34

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Ch 4 John Law (1671-1729): the financial engineer as social engineer , pp 35-74

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Ch 5 Marxs (1818-1883) monetary theory: mainstream conservative theory yet radical, revolutionary challenge , pp 76-106

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Ch 6 Keynes (1883-1946): monetary theorist as capitalisms saviour - the key issues , pp 107-140

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Ch 7 The surprising rise of libertarianism and the libertarian response: starring Murray Rothbard (1926-1995) - What Has Government Done to Our Money? , pp 142-170

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Ch 8 On the road again: Friedrich A. Hayeks (1899-1992) Denationalisation of Money , pp 171-197

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Ch 9 Issues raised by bitcoin and cryptocurrencies for monetary theory , pp 199-217

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Ch 10 Issues raised by monetary theory concerning bitcoin and cryptocurrencies , pp 218-232

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