Modern Monetary Theory

Whether a theoretical system is realistic or not has been a concern in economics, particularly in monetary theory, over the past century. Following John R. Hicks’ proposal that a realistic monetary theory could be constructed along

Topics Covered: Ethics, Quants, Economics. Corporate Issuers, Equity, Fixed Income, Derivatives & Portfolio Management

"Lawrence H. White deals with a major issue of the 1990s—reprivatization of money. He makes a cogent argument and presents evidence that private, competing currencies would provide more monetary stability than do central banks. Surprisingly enough, modern private money may emerge first in Eastern Europe, where the gap between the economy's need and the government's money is greates."