A pure credit money economy: A simple steady-state model

Research output: Contribution to journalReview article

2 Citations (Scopus)

Abstract

The paper presents a model of a simplified pure credit money economy, in the setting of the steady-state growth. Despite obvious limitations coming from drastic simplifications, the resulting simplicity brings into sharp relief some important points related to the endogeneity of money. Arguments are presented in the framework of the Cambridge-type model; in particular, by way of the discussion of the existence of one or more social classes, we support the proposition that money is essential for the continued existence of the economy.

Original languageEnglish
Pages (from-to)141-162
Number of pages22
JournalJournal of Post Keynesian Economics
Volume27
Issue number1
Publication statusPublished - 2004

Keywords

  • Cambridge theory of growth
  • Pure credit money economy

ASJC Scopus subject areas

  • Economics and Econometrics

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