By Richard Arena, Neri Salvadori, Augusto Graziani
Economists from Italy and different international locations talk about elements of the self-discipline that Graziani has been excited about and has contributed to in the course of his occupation. The 27 papers hide funds and monetary job; credits and banks; Keynes, Keynesian economics, and past; construction and source of revenue distribution; and the function of the kingdom. between specific issues
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Additional resources for Money, Credit and the Role of the State: Essays in Honour of Augusto Graziani (Alternative Voices in Contemporary Economics)
Sample text
18 Money Credit and the Role of the State Streissler, E. (1986), ‚Arma Virumque Cano: Friedrich von Wieser, The Bard as Economist’, in N. ): Die Wiener Schule der Nationalökonomie, Vienna: Herman Böhlau. Von Wieser, F. (1893), Natural Value, [reprinted by M. Kelley Publishers in 1956], English translation of Der natürliche Werth, 1889. Von Wieser F. (1927), Social Economics, New York: Adelphi Company [reprinted by M. Kelley Publishers in 1967], English translation of Theorie der Gesellschaftlichen Wirtschaft, 1914.
That the origin of money can truly be brought to our full understanding only by our learning to understand the social institution discussed here as the unintended result, as the unplanned outcome of specifically individual efforts of members of a society (Menger, 1883, p. 155). 12 Money Credit and the Role of the State These two quotations provide a significant outlook of Menger’s theory of money. Wieser accepted it only partially. He indeed considered that money is something more than this ‘intended result’ (p.
This is Cagan’s conclusion. g. the stockholders or bank managers) who wish to own the increased 26 Money Credit and the Role of the State capital stock, the effect on capital formation is permanent. Under this hypothesis, the monetary expansion would not appear to be the banks’ aimless initiative, as, on consideration, it is in Cagan’s model, but the means rationally used by the banks’ managers or stockholders for achieving an intended increase in the capital stock at the expense of depositors.