Overview
Access this book
Tax calculation will be finalised at checkout
Other ways to access
About this book
This book challenges the mainstream paradigm, based on the inter-temporal optimisation of welfare by individual agents. It introduces a methodology for studying how institutions create flows of income, expenditure and production together with stocks of assets and liabilities, thereby determining how whole economies evolve through time.
Similar content being viewed by others
Keywords
Table of contents (13 chapters)
-
Front Matter
-
Back Matter
Reviews
'The framework that Godley and Lavoie develop, with a consistent numerical and simulational handle on the various models, is a return to a majestic Wicksellian tradition A whole generation of graduate students have been brought up on policy nihilism, bordering on paralysis in the face of policy dilemmas. A new generation, armed with the tools, concepts and models developed by Godley and Lavoie, can now return to the grand traditions of macroeconomics as an experimental science, focusing on policy.' - K. Vela Velupillai, Fellow, Girton College, Cambridge, UK, and Professor of Economics, University of Trento, Italy
'Wynne Godley has been the moving force behind keeping quantitative non-mainstream macroeconomics alive and flourishing for the last several decades...His work is inspiring, and will guide policy-oriented macroeconomic modellers for decades to come.' - Lance Taylor, Cambridge Journal of Economics
'...[This] clearly deserves to become a standard referencefor everybody interested in SFC modelling in particular and modern macroeconomics in general. There are already first signs that other economists are indeed inspired by this way of thinking about the economy...' - Till van Treeck, Intervention, European Journal of Economics and Economic Policies
Authors and Affiliations
About the authors
WYNNE GODLEY was Director of the Department of Applied Economics at the University of Cambridge, UK, from 1970 to 1987, and a Professor of Applied Economics from 1980 to 1993. Subsequently, he was a Distinguished Scholar at the Levy Economics Institute of Bard College, New York, USA, and then a Visiting Research Associate at the Cambridge Endowment for Research in Finance.
MARC LAVOIE is Professor in the Department of Economics at the University of Ottawa, Canada. He has written over 175 journal articles and book chapters, as well as authoring Foundations of Post-Keynesian Economic Analysis and Introduction to Post-Keynesian Economics.
MARC LAVOIE is Professor in the Department of Economics at the University of Ottawa, Canada. He has written over 175 journal articles and book chapters, as well as authoring Foundations of Post-Keynesian Economic Analysis and Introduction to Post-Keynesian Economics.
Bibliographic Information
Book Title: Monetary Economics
Book Subtitle: An Integrated Approach to Credit, Money, Income, Production and Wealth
Authors: Wynne Godley, Marc Lavoie
DOI: https://doi.org/10.1007/978-1-137-08599-3
Publisher: Palgrave Macmillan London
eBook Packages: Palgrave History Collection, History (R0)
Copyright Information: Palgrave Macmillan, a division of Nature America Inc. 2012
Softcover ISBN: 978-0-230-30184-9Published: 27 March 2012
eBook ISBN: 978-1-137-08599-3Published: 30 April 2016
Edition Number: 2
Number of Pages: XLVI, 530
Topics: European History, Banking