
Author Michael Hoffman explores how a medium of exchange, while vital for economic calculation, can cause severe distortions within the structure of production if it is not supplied organically. The pervasiveness of money is surpassed only by society's misunderstanding of its nature and role in economics. Monetary Kaledics contains three sections: Part 1 explains different aspects of the trade cycle from the Austrian perspective, exploring the nuances of the relationship between wages and prices, including how they, in their roles as market signals, affect the inter temporal capital structure. Part 2 is an inquiry into the connection between money and banking, examining how the financial system can extend too much or too little credit, thus creating a phenomenon known as monetary disequilibrium Part 3 considers the implications of the ideas from the first two parts on the future monetary theory and the real economy. By fusing elements of different economic perspectives with new insights, this original contribution will guide the reader through the illusion of money into a complex world that's in constant flux - just like a kaleidoscope.
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