New Work by Eric Tymoigne: Towards a Heterodox Perspective on Money, Banking, & Macroeconomics


By Eric Tymoigne

This work covers banking, central banking, macroeconomic topics, and money in a completely different way than the typical text with a focus on balance sheet: Gone is the money multiplier theory, gone in the financial intermediary theory of banks, gone is the idea that central bank control monetary aggregates, gone is the idea that finance is neutral in any range of time, and gone is the idea that nominal values are irrelevant. Preoccupations about monetary gains, solvency and liquidity are central to the dynamics of capitalism, and finance is not constrained by the amount of saving. Financial interdependence are emphasized, the “money” topic (usually just an after thought at the beginning of chapter 1) now takes three chapters and is fully integrated with the rest of the text.

The text can be downloaded here

One thought on “New Work by Eric Tymoigne: Towards a Heterodox Perspective on Money, Banking, & Macroeconomics

  1. Compared to many recent lies about money (being created by banks as deficits, out of thin air, etc.) this book is a good and clear explanation about what money is and is not, and how it works. I congratulate the writer on this new work!

    In my doubtful opinion, the treatment of its relationship to macroeconomics is too short and insufficient. For a better explanation of the combined money and macroeconomics system, my book “Consequential Macroeconomics” is of use although I leave the money aspects alone until the fifth section. Write to me for a free reviewer’s copy.


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