Monetary Economics – An Integrated Approach to Credit, Money, Income, Production and Wealth

W. Godley, M. Lavoie
Palgrave Macmillan UK, 2012
Level: advanced
Perspective: Post-Keynesian Economics
Topic: Money & Debt
page count: 530 pages
ISBN: 9780230301849


This book challenges the mainstream paradigm, based on the inter-temporal optimisation of welfare by individual agents. It introduces a methodology for studying how institutions 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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