Money in Economic Theory

Taylor & Francis

Money in Economic TheoryAuthor(s): Hasse Ekstedt\nFormat: Paperback\nPublisher: Taylor & Francis Ltd, United Kingdom\nImprint: Routledge\nISBN-13: 9781138901254, 978-1138901254\nSynopsis\nThe financial crash of 2008 showed the fragility of the financial system. A key question which surfaced in the aftermath of the global crisis was why economists were unable to predict this crash. This new volume argues that this failure can be attributed, at least in part, to the poor and inconsistent treatment of money and monetary matters in economic theory. The book takes this problem as its starting point, and from there aims to develop a more consistent treatment of the topic.\n\nHere, Hasse Ekstedt affirms that the treatment of money in economic theory has been inconsistent and that the topic of money can in fact be seen as anomalous. He argues that this anomaly depends on deficiencies in the economic theory, which through an equilibrium approach mainly perceives money as an index of measu.