Money and Credit in Capitalist Economies
L. Randall Wray
in Books from Edward Elgar Publishing
This widely acclaimed book argues that money is not the product of a simple deposit multiplier process. The impressive analysis includes discussions of the origins and nature of money and of the evolution of monetary institutions and theory. Unlike other recent works on ‘endogenous money’, this book incorporates liquidity preference theory within the analysis by carefully distinguishing money from liquidity and by showing how money, but not liquidity, is created on demand. This naturally leads to a role for liquidity preference in the determination of interest rates. Extensions then link money to financial instability, the expenditure multiplier, credit, saving, investment, development, deficits and growth.
Keywords: Economics and Finance (search for similar items in EconPapers)
JEL-codes: D7 (search for similar items in EconPapers)
References: Add references at CitEc
Citations: View citations in EconPapers (86) Track citations by RSS feed
Downloads: (external link)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.e-elgar.com/shop/isbn/9781852783563 [301 Moved Permanently]--> https://www.e-elgar.com/shop/isbn/9781852783563 [302 Found]--> https://www.e-elgar.com/shop/gbp/isbn/9781852783563)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:elg:eebook:474
Ordering information: This item can be ordered from
Access Statistics for this book
More books in Books from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().