Capital, Accumulation, and Money

An Integration of Capital, Growth, and Monetary Theory

  • Lester D. Taylor

Table of contents

  1. Front Matter
    Pages i-xxvii
  2. Lester D. Taylor
    Pages 1-5
  3. Lester D. Taylor
    Pages 7-15
  4. Lester D. Taylor
    Pages 17-30
  5. Lester D. Taylor
    Pages 31-48
  6. Lester D. Taylor
    Pages 49-63
  7. Lester D. Taylor
    Pages 65-78
  8. Lester D. Taylor
    Pages 79-102
  9. Lester D. Taylor
    Pages 103-111
  10. Lester D. Taylor
    Pages 113-127
  11. Lester D. Taylor
    Pages 129-134
  12. Lester D. Taylor
    Pages 135-151
  13. Lester D. Taylor
    Pages 153-160
  14. Lester D. Taylor
    Pages 161-169
  15. Back Matter
    Pages 265-272

About this book


Capital, Accumulation, and Money: An Integration of Capital, Growth, and Monetary Theory is a book about capital and money. A root concept of capital is formulated that allows for most existing concepts of capital to be unified and related to one another in consistent fashion. Capital and monetary theory are integrated in a non-mathematical framework that imposes a number of constraints on the macro behavior of an economy, constraints which make for the straightforward understanding of such concepts as the real stock of money, real-balance effects, and the general price level. New and illuminating insights are also provided into aggregate supply and demand, natural and money rates of interest, the relationship between real and monetary economies, and economic growth and development. This fully expanded, revised, and updated edition features important new material on a variety of timely topics, including: * Factors leading to the financial meltdown and turmoil of 2007-09; * Why bubbles form in asset markets and how these impact on the real economy; * The importance of a lender-of-last-resort in times of financial stress; * Future financing and funding of the U. S. Social Security System. Additionally, the author offers a number of ideas for alleviating the severity, if not the avoidance altogether, of financial crises in the future. This is a book for those -- students (both graduate and undergraduate) and their teachers, investors, and the informed public -- who want an understanding of how economies and financial markets function, without an advanced degree in mathematics.


Financing Inflation Investment economic growth growth monetary theory production

Authors and affiliations

  • Lester D. Taylor
    • 1
  1. 1.Dept. EconomicsUniversity of ArizonaTucsonUSA

Bibliographic information