Overview
- Dispels a number of central misunderstandings about money by tying the concept of money to the goods and services sector of the economy
- Demystifies the process of money creation on the part of central banks
- Points out the pitfalls of fallacious thinking
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Table of contents (9 chapters)
Keywords
About this book
This book clarifies some misunderstandings about money by tying the concept of money to the goods and services sector of the economy. In addition, it demystifies the process of money creation on the part of central banks.
The phenomenon of money is ubiquitous; it has been around for tens of thousands of years, if not longer. Indeed, no modern economy could function without money. For many, however, the concept of money remains elusive. Worse still, misinformation abounds, which leaves the uninitiated vulnerable to fraud. This lack of understanding has serious policy implications as well. When policymakers lack a firm grasp of the concept, policy is likely to be flawed and its effects are likely to be detrimental to the body politic.
After providing a brief history of money, the author details the role of money in the division of labor and specialization, in economic growth, and in an interconnected world. Throughout the book, he points out the pitfalls of fallacious thinking. In recent policy debates, such thinking has led to proposals ranging from the re-institution of the gold standard to supplying limitless money as suggested by Modern Monetary Theory.
Authors and Affiliations
About the author
Mohammad Ashraf is Professor of Economics at the University of North Carolina at Pembroke, USA, where he has taught economics and statistics courses since 1999. His research interests include macroeconomics and monetary economics, economic growth and development, and gender discrimination in the labor market. He is the author of Formal and Informal Social Safety Nets: Growth and Development in the Modern Economy (Palgrave Macmillan, 2014) and numerous research articles that have appeared in scholarly journals including Contemporary Economics Policy, Annals of Economics and Finance, Applied Economic Letters, Journal of Economics (MVEA), Journal of Economic Insight, and Journal of Education for Business.
Bibliographic Information
Book Title: Money
Book Subtitle: Understandings and Misunderstandings
Authors: Mohammad Ashraf
DOI: https://doi.org/10.1007/978-3-030-50378-9
Publisher: Palgrave Macmillan Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2020
Hardcover ISBN: 978-3-030-50377-2Published: 06 October 2020
Softcover ISBN: 978-3-030-50380-2Published: 07 October 2021
eBook ISBN: 978-3-030-50378-9Published: 05 October 2020
Edition Number: 1
Number of Pages: XVII, 280
Number of Illustrations: 40 b/w illustrations
Topics: Macroeconomics/Monetary Economics//Financial Economics, Banking, Public Economics