What is money in a critical macro-finance framework?
This forum contribution explains how analyzing the creation, distribution, and destruction of contemporary credit money is placed centre stage in the emerging field of critical macro-finance. This approach not only involves traditional f...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Cambridge University Press
2020-01-01
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| Series: | Finance and Society |
| Online Access: | https://www.cambridge.org/core/product/identifier/S2059599900000844/type/journal_article |
| Summary: | This forum contribution explains how analyzing the creation, distribution, and
destruction of contemporary credit money is placed centre stage in the emerging
field of critical macro-finance. This approach not only involves traditional
forms of money but also ‘shadow money’: private credit instruments which are not
regulated as money from a legal standpoint, but in many respects are
functionally equivalent to ‘established’ forms of money. To connect different
positions in this discourse, we propose three core criteria for defining shadow
money as a baseline position for future critical macro-financial research. |
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| ISSN: | 2059-5999 |