||8 of 8 people found the following review helpful.| great book (and it is possible to run the simulations without buying any software)|By Stephen Thompson|In this book, the authors develop a new and powerful methodology for macroeconomic modeling, based on a Kaleckian view of how things work. In the models, as in the real world, flow variables (like personal income) generate changes in stock variables (like personal wealth).|||'The framework that Godley and Lavoie develop, with a consistent numerical and simulational handle on the various models, is a return to a majestic Wicksellian tradition A whole generation of graduate students have been brought up on policy nihilism, borderi
This book challenges the mainstream paradigm, based on the inter-temporal optimisation of welfare by individual agents. It introduces a methodology for studying how institutions create flows of income, expenditure and production together with stocks of assets and liabilities, thereby determining how whole economies evolve through time.
[PDF.je58] Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth Rating: 3.98 (627 Votes)
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You easily download any file type for your device.Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth | Godley, Lavoie. A good, fresh read, highly recommended.
