Download An essay on the monetary theory of distribution by Massimo Pivetti PDF

By Massimo Pivetti

Show description

Read Online or Download An essay on the monetary theory of distribution PDF

Best economic theory books

Capital and Credit: A New Formulation of General Equilibrium Theory

Modern basic equilibrium idea is regularly short-run, separated from financial facets of the economic system, and as such doesn't take care of long-run difficulties corresponding to capital accumulation, innovation, and the historic circulate of the financial system. those phenomena are mentioned via development thought, which being brief time period, can't care for the elemental challenge of ways the creation functionality is derived.

Stochastic Methods: A Handbook for the Natural and Social Sciences (Springer Series in Synergetics)

Within the 3rd variation of this vintage the bankruptcy on quantum Marcov tactics has been changed via a bankruptcy on numerical therapy of stochastic differential equations to make the e-book much more useful for practitioners.

Economics of Physiocracy

The delivery of Physiocracy used to be the delivery of the technological know-how of economics within the extensive common shape within which it really is recognized to us at the present time. it really is excellent for this reason that the Physiocrats must have got so little consciousness from economists within the English-speaking global. This publication fills that hole. the quantity starts with a intentionally non-specialist advent.

Late Neoclassical Economics: The restoration of theoretical humanism in contemporary economic theory

Numerous modern financial theories revolve round varied strategies: marketplace disasters, associations, transaction expenditures, info asymmetries, motivational variety, cognitive obstacles, strategic behaviors and evolutionary balance. in recent times, many economists have argued that the rise in circulate and mobilization of those new and heterogeneous strategies and their linked methodologies (e.

Additional resources for An essay on the monetary theory of distribution

Sample text

Supporting the tin price through purchases of physical metal and through many forward contracts on the London Metal Exchange (LME), together amounting to two-thirds of annual new production, the ITC influenced the market from 1982 until October 1985, when it suddenly announced itself unable to meet its financial and contractual commitments. The price collapsed 40 percent, the ITC's banks and brokers staggered under £300 million in losses from their extension of credit, the venerable LME suspended trading in tin and barely survived (Anderson and Gilbert, 1988).

To what extent did the ITC's activities consolidate trends that would have occurred regardless? It is clear that over 1979-1980 the price of silver behaved strangely and the Hunts held large positions. Nevertheless, are those two facts causally connected? Had late 1979 and early 1980 been marked by major oil finds outside the Middle East and by a thaw in the Cold War, would anyone have noticed the Hunts' large positions in silver? The flamboyant episodes of commodity prices also present difficulties for legal analysis.

When a commodity's price is close to its historical average, it might be because a manipulation kept it from being unusually low. Further complicating the consideration of the circumstantial evidence, a manipulation is an effect, not simply an act. 19 As the court decisions have emphasized, acts deemed manipulative in some contexts are unquestionably legitimate in others. Acts become manipulative by combining with other acts and by contributing to an artificial price. Thus, some judgment is required to detect a manipulation from circumstantial evidence.

Download PDF sample

An essay on the monetary theory of distribution by Massimo Pivetti


by Anthony
4.1

Rated 4.69 of 5 – based on 30 votes