Endogenous money, liquidity preference and confidence: for a qualitative theory of money
| Autor: | Edwin Le Heron |
|---|---|
| Přispěvatelé: | Louis-Philippe Rochon, Hassan Bougrine (eds.), Centre Émile Durkheim (CED), Sciences Po Bordeaux - Institut d'études politiques de Bordeaux (IEP Bordeaux)-Centre National de la Recherche Scientifique (CNRS)-Université de Bordeaux (UB), Université nationale autonome du Mexique, Jenart, Karine |
| Jazyk: | angličtina |
| Rok vydání: | 2020 |
| Předmět: |
qualitative theory
Endogenous money liquidity 05 social sciences Post-Keynesian economics Monetary economics Qualitative theory endogenous money 16. Peace & justice [SHS.ECO]Humanities and Social Sciences/Economics and Finance [SHS.SCIPO]Humanities and Social Sciences/Political science 0506 political science Market liquidity money 0502 economics and business Liquidity preference 050602 political science & public administration Economics 050207 economics [SHS.ECO] Humanities and Social Sciences/Economics and Finance [SHS.SCIPO] Humanities and Social Sciences/Political science |
| Zdroj: | Conférence post keynésienne sur la monnaie Conférence post keynésienne sur la monnaie, Université nationale autonome du Mexique, Oct 2019, Mexico, France Credit, Money and Crises in Post-Keynesian Economics Louis-Philippe Rochon; Hassan Bougrine (eds.). Credit, Money and Crises in Post-Keynesian Economics, Edward Elgar Publishing, pp.133-151, 2020, New Directions in Post-Keynesian Economics series, 9781786439543. ⟨10.4337/9781786439550.00018⟩ |
| DOI: | 10.4337/9781786439550.00018⟩ |
| Popis: | Money is an institution that can only function when it perfectly manages the relationship between sovereignty and confidence. The foundation of this monetary relationship can focus on two directions: either a top-down process based on sovereignty so as to justify public confidence in the money; or a bottom-up process starting from building confidence through coordination and learning among individuals to explain the organization of a sovereign monetary authority. Starting from the three hierarchical levels of confidence (methodical, hierarchical and ethical) highlighted by Michel Aglietta and André Orléan (2002), the first process emphasizes the importance of a sovereign political power as the foundation of confidence and multiplies the rules and norms necessary for methodical confidence, while being a guarantor of the social values in the monetary compromise issuing from ethical confidence. The monetary order is based on the exercise of hierarchical political power from top to bottom. Money thus becomes a ‘total social fact’ (Simmel quoted in Aglietta, 2008, p. 4). |
| Databáze: | OpenAIRE |
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