Theories of Money and Banking (The International Library of Critical Writings in Economics series) - Hardcover

`This is an edited, two-volume collection of articles with the focus on questions of the emergence of money, the role of money, monetary policy, and the importance of financial institutions. Overall, the collection provides interesting insights on ideas in various heterodox monetary research programs, particularly the ones following a post-Keynesian agenda, and I can see it as a useful reference for those who want to learn and write about these research programs.' -- Simon Bilo, Journal of the History of Economic Thought `Randall Wray's two volumes provide a bright beacon in a darkening night of turmoil, confusion and ignorance. By bringing together classics from both the mainstream and heterodox approaches to monetary theory and policy, Wray provides a fundamental resource for the urgently needed rethink on how the interrelated world of monetary production economies functions or misfunctions, and also a basis for the development of a sound theory on how to erect effective policies for tackling major, potentially disastrous problems.' -- Geoffrey Harcourt, University of New South Wales, Australia

This authoritative two-volume collection brings together the most important contributions to theories of money and banking written over the past century. Professor Wray covers a number of key topics including the historical debates about the nature of money, the role money and financial institutions play in the economy and monetary policy formation. A wide variety of approaches to money and banking are featured, among which are Monetarist, Keynesian, Marxian, Post-Keynesian and Institutionalist, and the New Monetary Consensus. Also included are a number of chapters presenting General Equilibrium, Chartalist or State Money, and Circuitiste views. In addition to the views of economists, this well-rounded set incorporates historical, sociological and anthropological approaches to money as well as theoretical topics such as interest rate, inflation rate, and exchange rate determination. This collection, along with an original introduction by the editor, will be of immense value to anyone with an interest in the field of money and banking.