Development and Rebuilding of Monetary Theory

Author: Fan Miaojiang
Publisher:
Publish Date: 2006-05-01
Features: The current state of economic research is unsatisfactory, as mainstream economics has gradually led the field astray in the wrong direction. In reality, what economics should study is not the technical relationships of production but the social relationships among people. All statistical variables in the national income accounting system expressed in monetary value, from a macro perspective, merely represent social relationships and are completely unrelated to technology. The Classical School and Marxist economics precisely studied such total relationships, yet these total relationships cannot be explained by neoclassical production functions. Instead, they should be linked to the monetary theory established by Keynes. Therefore, re-establishing a monetary economic theory based on the Classical School, Marxist economics, and Keynesian economics that demonstrates the social relationships among people is precisely the direction of economic development. This book is a research textbook on monetary theory, covering topics such as mercantilism and pre-classical monetary theory, classical monetary theory, macro-monetary economic theory, early neoclassical monetary and credit cycle theory, effective demand and monetary theory, and the monetary theory of mainstream economics. It is suitable for economics-related professionals to study.