Money
5,000 Years of Debt and Power
Seiten
2020
Verso Books (Verlag)
978-1-78663-442-9 (ISBN)
Verso Books (Verlag)
978-1-78663-442-9 (ISBN)
The major French economist offers a new theory of money
As the financial crisis reached its climax in September 2008, the most important figure on the planet was Federal Reserve chairman Ben Bernanke. The whole financial system was collapsing, without anything to stop it. When a senator asked Bernanke what would happen if the central bank did not carry out its rescue package, he replied,"lf we don't do this, we may not have an economy on Monday."
What saved finance, and the Western economy, was money. Yet it is a highly ambivalent phenomenon. It is deeply embedded in our societies, acting as a powerful link between the individual and the collective. But by no means is it neutral. Through its grip on finance and the debts system, money confers sovereign power on the economy. If confidence in money is not maintained, crises will follow.
As the financial crisis reached its climax in September 2008, the most important figure on the planet was Federal Reserve chairman Ben Bernanke. The whole financial system was collapsing, without anything to stop it. When a senator asked Bernanke what would happen if the central bank did not carry out its rescue package, he replied,"lf we don't do this, we may not have an economy on Monday."
What saved finance, and the Western economy, was money. Yet it is a highly ambivalent phenomenon. It is deeply embedded in our societies, acting as a powerful link between the individual and the collective. But by no means is it neutral. Through its grip on finance and the debts system, money confers sovereign power on the economy. If confidence in money is not maintained, crises will follow.
Michel Aglietta is Emeritus Professor at the Universit Paris-Ouest, where he is a scholarly advisor to the CEPII and France Strat gie. Pepita Ould Ahmed is an economist at the Institutde recherche pour le d veloppement (IRD) and member of the CESSMA at the Universit Paris-Diderot. Jean-Fran ois Ponsot is a lecturer at the Centre de recherche en conomie de Grenoble at the Universit Grenoble-Alpes.
| Erscheinungsdatum | 16.09.2020 |
|---|---|
| Co-Autor | Pepita Ould Ahmed, Jean-Francois Ponsot |
| Übersetzer | David Broder |
| Verlagsort | London |
| Sprache | englisch |
| Maße | 129 x 198 mm |
| Gewicht | 368 g |
| Themenwelt | Geschichte ► Teilgebiete der Geschichte ► Wirtschaftsgeschichte |
| Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft | |
| ISBN-10 | 1-78663-442-2 / 1786634422 |
| ISBN-13 | 978-1-78663-442-9 / 9781786634429 |
| Zustand | Neuware |
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