In this important new book, Geoffrey Ingham draws on neglected traditions in the social sciences to develop a theory of the ‘social relation’ of money.&nbsp; &nbsp;<ul><li>Genuinely multidisciplinary approach, based on a thorough knowledge of theories of money in the social sciences &nbsp;</li><li>An original development of the neglected heterodox theories of money &nbsp;</li><li>New histories of the origins and development of forms of money and their social relations of production in different monetary systems &nbsp;</li><li>A radical interpretation of capitalism as a particular type of monetary system and the first sociological outline of the institutional structure of the social production of capitalist money &nbsp;</li><li>A radical critique of recent writing on global e-money, the so-called ‘end of money’, and new monetary spaces such as the euro.</li></ul>

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The Fiqh of Money

Financial

Economic-systems

 In this important new book, Geoffrey Ingham draws on neglected traditions in the social sciences to develop a theory of the ‘social relation’ of money. 

the nature of money

Robert Lucas is one of the outstanding monetary theorists of the past hundred years. Along with Knut Wicksell, Irving Fisher, John Maynard Keynes, James Tobin, and Milton Friedman (his teacher), Lucas revolutionized our understanding of how money interacts with the real economy of production, consumption, and exchange. Lucas’s contributions are both methodological and substantive. Methodologically, he developed dynamic, stochastic, general equilibrium models to analyze economic decision-makers operating through time in a complex, probabilistic environment. Substantively, he incorporated the quantity theory of money into these models and derived its implications for money growth, inflation, and interest rates in the long run. He also showed the different effects of anticipated and unanticipated changes in the stock of money on economic fluctuations, and helped to demonstrate that there was not a long-run trade-off between unemployment and inflation (the Phillips curve) that policy-makers could exploit. The twenty-one papers collected in this volume fall primarily into three categories: core monetary theory and public finance, asset pricing, and the real effects of monetary instability. Published between 1972 and 2007, they will inspire students and researchers who want to study the work of a master of economic modeling and to advance economics as a pure and applied science.

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Robert Lucas is one of the outstanding monetary theorists of the past hundred years. Along with Knut Wicksell, Irving Fisher, John Maynard Keynes, James Tobin, and Milton Friedman (his teacher), Lucas revolutionized our understanding of how money interacts with the real economy of production, consumption, and exchange.

Collected Papers on Monetary Theory

Sociologist Geoffrey Ingham presents two grand theories of money – the commodity theory and the credit (or claim) theory. He follows the great economist Joseph Schumpeter in seeing these theories as incompatible. Money is either a commodity or a claim. According to the first, money evolved from barter. It gains value from the material that it consists of or is tied to (eg, gold or silver). According to the second, its value derives from the debts He follows the great economist Joseph Schumpeter in seeing these theories as incompatible. Money is either a commodity or a claim. According to the first, money evolved from barter. It gains value from the material that it consists of or is tied to (eg, gold or silver).

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Sociologist Geoffrey Ingham presents two grand theories of money

Concepts of Money

This new book analyses the challenge of how money (including coins, notes, credit, and virtual currency) should be defined from both a legal and an economic perspective. As new electronic payment mechanisms proliferate, this question of definition is likely to become an important issue in global legal, commercial, economic, macro-prudential and fiscal policymaking. The book re-examines money in this context by identifying the role it plays in various transactions and to what extent, for example, cryptocurrencies and quasi-money are interchangeable with, analogous to, or different from traditional monetary systems. Beginning with a summary of the legal nature of money, the book explains the distinction between money and payment obligations, as well as providing an overview of the fundamental characteristics of money. It analyses how the law identifies money by pinpointing characteristics of particular transactions such as sale of goods transactions, including the position where the exchange of goods is for e-currency. Other situations or transactions examined include the recovery of stolen money, claims for non-delivery of money, and how obligations to pay operate. The book also considers the role of money in the banking system, exploring how various currencies can be used as claims on financial institutions, examining whether the systemic stability of the industry is threatened by non-traditional currency forms. Finally, the book addresses, and seeks to develop a conceptual framework for how alternative currencies might work in place of money as a medium for saving.

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This new book analyses the challenge of how money (including coins, notes, credit, and virtual currency) should be defined from both a legal and an economic perspective.


The Legal Concept of Money

The optimum quantity of money is a normative monetary policy conclusion drawn from the long-run properties of a theoretical model. Most famously associated with Milton Friedman, the optimum calls for a zero nominal rate of interest and thus a steady state of price deflation at the long-run real rate of interest. Although this policy prescription has played a minor role in monetary policy implementation, it has had an enormous influence in monetary theory.

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Others

The optimum quantity of money is a normative monetary policy conclusion drawn from the long-run properties of a theoretical model. 

The Optimum Quantity of Money

“It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments.” – from The Theory of Money and Credit Originally published in 1912, Ludwig von Mises’s The Theory of Money and Credit remains today one of economic theory’s most influential and controversial treatises. Von Mises’s examination into monetary theory changed forever the world of economic thought when he successfully integrated “macroeconomics” into “microeconomics” —previously deemed an impossible task —as well as offering explanations into the origin, value and future of money. One hundred years later, von Mises and the Austrian school of economic theory are still fiercely debated by world economists in their search for the solution to America’s current financial crisis. His theorems continue to inspire politicians and market experts who aim to raise up the common man and reduce the financial power of governments. In a preface added in 1952, von Mises urges the people of the world to see economic truth: “The great inflations of our age are not acts of God. They are man-made or, to say it bluntly, government-made. They are the off-shoots of doctrines that ascribe to governments the magic power of creating wealth out of nothing and of making people happy by raising the ‘national income.’”

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“It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments.” – from The Theory of Money and Credit

Theory of Money and Credit

The Role of Money examines the mystery of money in its social aspect and illustrates what money now is, what is does and what it should do. The standpoint from which the book is written is that of the public. The significance of the 'money-power' of the state to issue money has been recently recognized by historians. Its key position in shaping the course of world events is here explained. Included are: * Chapters on the philosophic background * The theory of money - Virtual Wealth * The Evolution of Modern Money * International Economic Relations * Debts and Debt Redemption

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The Role of Money examines the mystery of money in its social aspect and illustrates what money now is, what is does and what it should do. The standpoint from which the book is written is that of the public.

The Role of Money What It Should Be, Contrasted With What It Has Become 

Providing a thorough legal analysis of money in all its aspects, Mann on the Legal Aspect of Money has been the leading text on the private and public law of money ever since the publication of the first edition in 1939. This latest edition considers issues that arose in the course of the financial crisis, including the legal aspects of the Greek financial crisis, the implications of quantitative easing and the "lender of last resort" function of the central bank. Additionally, there is a new chapter on payment processes following the Payment Services Directive and legislation designed to reinforce legal arrangements in the context of payment systems. In a private law context, the book deals with the nature of money and its use in the payment of private debts and the right to interest and damages in the event of a delay in the payment of a monetary obligation. It also addresses the implications of money laundering regulations, sanctions and similar legislation in the context of monetary obligations. From a public law perspective, it explores the legal consequences of inflation and the erosion of monetary value as well as the structure of national monetary systems, including monetary pegs, currency boards and dollarization. In an international law context, the legal implications of monetary associations are considered including economic and monetary union in Europe. The text also considers the legal implications of fluctuating exchange rates and international obligations in relation to the national currency (e.g. exchange rate manipulation and discriminatory monetary practices). The seventh edition of Mann gives an up-to-date and detailed discussion of current matters, whilst continuing to provide an in-depth analysis on all aspects of monetary law in a single reference source.

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This latest edition considers issues that arose in the course of the financial crisis, including the legal aspects of the Greek financial crisis, the implications of quantitative easing and the "lender of last resort" function of the central bank. Additionally, there is a new chapter on payment
processes following the Payment Services Directive and legislation designed to reinforce legal arrangements in the context of payment systems.


Mann on the Legal Aspect of Money

An evidence-based approach to economics &nbsp; Throughout&nbsp;Economics, 2rd Edition,&nbsp;authors DaronAcemoglu, David&nbsp;Laibson, and John List use real economic questions anddata to help&nbsp;you learn about the world around you. Taking a freshapproach, they use the themes of optimization, equilibrium, and empiricism tonot only illustrate the power of simple economic ideas, but also to explain andpredict what’s happening in today’s society. Each chapter begins with anempirical question that is relevant to the life of the reader, and&nbsp;islater answered using data in the Evidence-Based Economics feature. As a resultof the text’s practical&nbsp;emphasis,&nbsp;you learn to apply economicprinciples to guide the decisions&nbsp;you make in&nbsp;your own dailylife.&nbsp;

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Throughout Economics, 2rd Edition, authors DaronAcemoglu, David Laibson, and John List use real economic questions anddata to help you learn about the world around you. 

ECONOMICS Global Edition

In 1913 and 1914, A. Mitchell Innes published a pair of articles that stand as two of the best pieces written in the twentieth century on the nature of money. Only recently rediscovered, these articles are reprinted here for the first time. In addition, five new contributions analyze and extend the approach of Innes in a number of directions by including historical, anthropological, sociological, archeological, and economic analyses of the nature of money.&nbsp;The original articles by Innes contained two quite different approaches to money - what might be called the credit approach (later developed in a much less satisfactory manner by J.A. Schumpeter) and the state money approach (also called Chartalist and adopted by J.M. Keynes and by G.F. Knapp). This volume shows how the credit and state money approaches can be integrated to shed light on the origins of money, but more importantly, how they can be used to understand the way the modern money system operates. In addition to the articles by Innes, the volume contains chapters by John Henry, Geoffrey Ingham, Michael Hudson, Geoffrey Gardiner, and L. Randall Wray. An introduction by L. Randall Wray and Stephanie Bell provides an overview and a short biography of Innes.This authoritative collection of papers is a must-read for economists, policymakers and students interested in the history of economic thought, monetary policy and economic theory.

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In 1913 and 1914, A. Mitchell Innes published a pair of articles that stand as two of the best pieces written in the twentieth century on the nature of money. Only recently rediscovered, these articles are reprinted here for the first time. 