OF RELATED INTEREST
Economic Thought
The Evolution of Money
A Brief History
David Orrell and Roman Chlupatý
Heinz D. Kurz Translated by Jeremiah Riemer
Heinz D. Kurz takes the reader from ancient Greece to classical economics to the visionary work of Kenneth J. Arrow and Amartya Sen. Among many other topics, he explains what Adam Smith meant by an “invisible hand””; how Karl Marx’s “law of motion” works in capitalist economies; the roots of Austrian economists’ emphasis on the problems of information, incomplete knowledge, and uncertainty; and John Maynard Keynes’s principle of effective demand and economic stabilization. A final chapter sums up the major concerns of economists today and their relation to world events.
“These authors tackle two of the toughest questions in economics: What is money and why does it have value? They present an intriguing definition of money and theory of money’s value. They write a long history of money, weaving in references to current issues and dilemmas facing our society.” —Michael Kelly, Lafayette College The Evolution of Money illuminates money’s elastic nature, focusing on the tension between currency’s real and abstract properties and advancing a vital theory of money. From ancient Mesopotamia to the digital era, The Evolution of Money helps us visualize and strategize money’s next, transformative role.
$27.00 / £19.00 cloth 978-0-231-17258-5 May 2016 208 pages
$35.00 / £24.00 cloth 978-0-231-17372-8 June 2016 336 pages
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