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Focusing on the evolutionary aspects of money and markets, this book offers a fresh perspective on their self-fulfilling and self-destructive characteristics. It critiques neoclassical general equilibrium theory, which overlooks the role of money in concentrated markets. Instead, it introduces an alternative theory that explores how a realistic "dispersive market" operates using money and inventory as buffers, creating a multilayered system for price and quantity adjustments.
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The Enigma of Money, Makoto Nishibe
- Language
- Released
- 2016
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- (Hardcover)
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