Monetary economics: An integrated approach to credit, money, income, production and wealth

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Abstract

This book challenges the mainstream paradigm, based on the inter-temporal optimisation of welfare by individual agents. It introduces a methodology for studying how it is institutions which create flows of income, expenditure and production together with stocks of assets and liabilities, thereby determining how whole economies evolve through time.

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Godley, W., & Lavoie, M. (2006). Monetary economics: An integrated approach to credit, money, income, production and wealth. Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth (pp. 1–530). Palgrave Macmillan. https://doi.org/10.1057/9780230626546

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