Definitions of Money Archives - Page 4 of 4

The economics of language: David Hume & valuing Facebook

19th February 2016

Definitions of Money, Economic History, Theory & Other Problems

David Hume is the first great thinker to identify language, law and money as 'spontaneous' institutions of social organisation. Hume was on to something quite profound, which remains under-appreciated. Langu...

Debt-free money: A brief reply to Randall Wray

Eric Lonergan

16th February 2016

Definitions of Money, Monetary Policy

26

L. Randall Wray is exercised by my suggestion that he has engaged in semantic sleight-of-hand. To summarise my argument: it is an obvious fact that a ten dollar bill is not a debt - because the issuer owes the...

Accounting as religion: Buffett, Derrida, and MMT

Eric Lonergan

17th January 2016

Definitions of Money, Economic History, Theory & Other Problems

89

A number of my recent posts seem to have wound up some of the more sensitive ‘mainstream’ economists, who don't like the suggestion that the likes of Minsky deserve their own 'school’. Some philosophers of sc...

Sitting on cathedral steps

Eric Lonergan

24th December 2015

Definitions of Money, Theory & Other Problems

5

Confusion in economics often resides in methodology - an area where economists are weak, as Simon Wren-Lewis points out. When we engage in economic analysis it is often unclear whether we are referring to speci...

Negative interest rates don’t work

Eric Lonergan

27th November 2015

Definitions of Money, Monetary Policy, Theory & Other Problems

12

I have argued that economists should be very wary about advocating steeply negative nominal interest rates. This is a case of basing policy on models which assume what they need to prove. If we assume that cha...

Tobin & the end of banking

Eric Lonergan

9th October 2015

Definitions of Money, Finance & Asset Pricing, Monetary Policy, Theory & Other Problems

21

I'm writing about this subject with some trepidation. Many economists who have entered the fray have made fools of themselves; and many who triumphantly point out their errors usually go on to make some of thei...

The effects of negative interest rates. A brief reply to Miles Kimball

Eric Lonergan

3rd October 2015

Definitions of Money, Monetary Policy, Money in Europe

2

Miles Kimball has developed a very intriguing idea. He wants there to be an exchange rate between physical cash and electronic money (deposits) and a steeply negative interest rate on deposits to stimulate spen...

Does the central bank’s balance sheet matter?

Eric Lonergan

25th May 2015

Definitions of Money, Monetary Policy, Theory & Other Problems

A growing number of economists are advocating granting central banks the power to make payments to households. Brad DeLong puts it in historical context, bemoaning the failure of the “social credit” politicians...

Why is money not a debt? Because you can’t smoke it.

Eric Lonergan

9th January 2015

Definitions of Money

3

Money is not a cigarette: the definition of money, and why it matters read more...

The economics of language: David Hume & valuing Facebook

Debt-free money: A brief reply to Randall Wray

Accounting as religion: Buffett, Derrida, and MMT

Sitting on cathedral steps

Negative interest rates don’t work

Tobin & the end of banking

The effects of negative interest rates. A brief reply to Miles Kimball

Does the central bank’s balance sheet matter?

Why is money not a debt? Because you can’t smoke it.

Reviews of Eric’s book

CNBC: market sell-off is ‘noise’

Monetary policy & babysitting: why rates are so low, and ‘what’s next?’