Money, Interest, and the Structure of Production: Resolving Some Puzzles in the Theory of Capital

Money, Interest, and the Structure of Production: Resolving Some Puzzles in the Theory of Capital

by Mateusz Machaj

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Overview

Is macroeconomic equilibrium possible under capitalism? How do economic bubbles develop? How does a monetary system influence the market mechanism? Is the return on capital a beneficial feature of the economic system? How does complexity of a capitalist organization influence the market process? Can output under capitalism be easily measured and modeled?
Such questions and many others relate to the central concept discussed in the book: heterogeneous structure of production, an envisioned theoretical connection between stages of the capitalist process. An inquiry into the functioning of a capital structure is necessary to understand the workings of the interest rate, savings, aggregate demand, and economic growth. Additionally it provides a theoretical framework to recognize consequences of monetary regimes and interest rate policies performed by the central banks.

Capital structure concepts have their place at the center of economic theory as they can provide a broad range of insights into our understanding of the real world. Money, Interest, and the Structure of Production offers key insights in that direction.

Product Details

ISBN-13: 9781498557542
Publisher: Lexington Books
Publication date: 10/15/2017
Series: Capitalist Thought: Studies in Philosophy, Politics, and Economics Series
Pages: 214
Product dimensions: 5.90(w) x 9.00(h) x 0.90(d)

About the Author

Mateusz Machaj is assistant professor at the Institute of Economic Sciences, the University of Wroclaw, and research fellow at the Faculty of Social and Economic Studies, Jan Evangelista Purkyne University.

Table of Contents

Acknowledgments Introduction Part I: Microeconomic Aspects of the Capital Structure Chapter 1: Interest as a Factorial Payment Chapter 2: Challenges Concerning the Structure of Production Part II: Macroeconomic Aspects of the Capital Structure Chapter 3: Expenditures Equilibrium and Say's Law. Chapter 4: Potential Output versus Intertemporal Equilibrium. Chapter 5: Non-Neutrality of Monetary Flows for the Structure of Production. Chapter 6: Monetary Policy as Interest Policy. Conclusion Bibliography About the Author

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