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Money and Exchange Book

Money and Exchange
Money and Exchange, Whether a theoretical system is realistic or not has been a concern in economics, particularly in monetary theory, over the past century. Following John R. Hicks' proposal that a realistic monetary theory could be constructed along an evolutionary path, s, Money and Exchange has a rating of 3 stars
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Money and Exchange, Whether a theoretical system is realistic or not has been a concern in economics, particularly in monetary theory, over the past century. Following John R. Hicks' proposal that a realistic monetary theory could be constructed along an evolutionary path, s, Money and Exchange
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Digital Copy
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  • Money and Exchange
  • Written by author Sasan Fayazmanesh
  • Published by Taylor & Francis, Inc., January 2006
  • Whether a theoretical system is realistic or not has been a concern in economics, particularly in monetary theory, over the past century. Following John R. Hicks' proposal that a realistic monetary theory could be constructed along an evolutionary path, s
  • Whether a theoretical system is realistic or not has been a major concern in economics, particularly in monetary theory, over the past century. Following John R. Hicks' proposal that a realistic monetary theory could be constructed along an evolutionary p
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Authors

Acknowledgmentsxi
1Introduction1
2The first community and the equation of exchange9
The origin of money and the nature of exchange10
Making sense of Aristotle12
The "primitivist-modernist" controversy14
The exchange relation17
Conclusion23
3The sons of Adam, justice in exchange, and the medieval economy26
Equality and justice in exchange28
The "abacus manuscripts"31
The "Rules of Barter"32
Formalization of the "Rules of Barter"36
The "difficulties of barter" revisited39
"Just price" and equality of exchange revisited41
Conclusion43
4The bartering savage and the equation of exchange46
The inconvenience of barter and emergence of money47
Exchange and the meanings of "value"50
Solving the equation of exchange in the "rude state of society"56
"Civilized nations" and the solution to the equation of exchange59
Conclusion62
5Primitive communities, the equation of exchange, and proper point of departure65
The origin of exchange and money66
Aristotle and the relation of exchange69
The relation of exchange and exchange-value71
Monetary theory and history: the second point of departure75
Monetary theory and history: the first point of depature79
Conclusion82
6Mademoiselle Zelie and the "scientific" theory of exchange84
The difficulties of barter85
Turning economics into a "science"89
Jevons's "scientific" theory of exchange93
Walras and the "scientific" theory of exchange97
Buying and selling in a moneyless Walrasian world102
Conclusion105
7Neo-Walrasianism, the matrix of exchange, and beyond108
Realistic or unrealistic?109
Neo-Walrasianism and the "matrix of exchange"112
The "matrix of exchange" and the real economy117
Post-Clower matrices of exchange121
Conclusion126
8Conclusion130
Notes136
References145
Index153


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