Capital, Accumulation, and Money

Capital, Accumulation, and Money: An Integration of Capital, Growth, and Monetary Theory, 2nd edition is a theoretical text designed for individuals interested in a non mathematics-based theory of capital. A new concept of capital is introduced, under which the current surfeit of concepts of capital can be unified. Economists working in capital and monetary theory will encounter new and illuminating insights into aggregate supply and demand, natural and money rates of interest, the relationship between real and monetary economies, and economic growth and development. Graduate and undergraduate students will find the book s comprehensive view of macroeconomics and monetary theory useful. Investors will acquire a better understanding of how financial markets are tied to and intertwine with the real economy.§§This fully expanded, revised and updated edition features new material on a number of timely topics, including§the factors that led to the financial market turmoil of 2008 §how bubbles in real and financial markets can form §the oil price increases of 2007-2008 §debate over the fate of the U.S. Social Security system §Additionally, the author proposes ideas for avoiding economic crises in the future.