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The dominant view in economics is that money and government should play only a minor role in economic life. Money is nothing more than a medium of exchange, it is claimed, and economic outcomes are best left to Adam Smith s invisible hand of the market. Yet these issues remain staunchly unsettled. The view taken in this important new book is that the omnipresence of uncertainty makes money and government essential features of any market economy. We hold money because we don t know what the future will bring. Government - good government - makes the future more predictable and therefore reduces the propensity to hold money.After Smith, orthodox economics persistently espoused non-interventionism; but the Great Depression of 1929-32 stopped the artificers of orthodox economics in their tracks.
Cild
Твердый переплет
Dil
ENG
Müəllif
ROBERT SKIDELSKY
Nəşriyyat
Allen Lane
Səhifə sayı
512
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