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Money, Banking, and the Business Cycle: Volume II: Remedies and Alternative Theories (in English)
B. Simpson
(Author)
·
Palgrave MacMillan
· Hardcover
Money, Banking, and the Business Cycle: Volume II: Remedies and Alternative Theories (in English) - Simpson, B.
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Synopsis "Money, Banking, and the Business Cycle: Volume II: Remedies and Alternative Theories (in English)"
The business cycle is a complex phenomenon. On the surface, it involves a multitude of mechanisms, such as oscillations in interest rates, prices, wages, unemployment, output, and spending. But a deeper understanding requires a unifying theory to make these various parts whole. Money, Banking, and the Business Cycle provides a comprehensive framework for analyzing these mechanisms, and offers a robust prescription for reducing financial instability over the long-term. Volume II refutes Keynesian and real business cycle theories and provides policy prescriptions to virtually eliminate the cycle. Simpson offers a detailed analysis of several historical monetary systems around the world and shows the causes and effects of fiat money and fractional-reserve banking, as well as a 100-percent reserve gold standard.