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Money, Banking, and the Business Cycle: Volume II: Remedies and Alternative Theories

Money, Banking, and the Business Cycle: Volume II: Remedies and Alternative Theories

Hardcover

AccountingManagement

ISBN10: 1137340770
ISBN13: 9781137340771
Publisher: Springer Nature
Published: Jul 2 2014
Pages: 306
Weight: 1.27
Height: 0.90 Width: 6.00 Depth: 9.30
Language: English
The business cycle is a complex phenomenon. On the surface, it involves a multitude of mechanisms, such as oscillations in interest rates, prices, wages, unemployment, output, and spending. But a deeper understanding requires a unifying theory to make these various parts whole. Money, Banking, and the Business Cycle provides a comprehensive framework for analyzing these mechanisms, and offers a robust prescription for reducing financial instability over the long-term. Volume II refutes Keynesian and real business cycle theories and provides policy prescriptions to virtually eliminate the cycle. Simpson offers a detailed analysis of several historical monetary systems around the world and shows the causes and effects of fiat money and fractional-reserve banking, as well as a 100-percent reserve gold standard.

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