Federico Caffè Vorlesungen Reihe

Augusto Graziani challenges traditional theories of monetary production, arguing that a modern economy based on credit cannot be understood without a focus on the administration of credit flow. Money functions as an instrument for the circulation of commodities or for keeping a stock of liquid wealth in mainstream economic theory. In neither case is it considered fundamental to the production of goods or the distribution of income. A strong exponent of the circulation theory of monetary production, Graziani presents an original and perhaps controversial argument which will stimulate debate.

Incorporating the latest results from behavioral economics and microeconomic theory, Samuel Bowles argues that conventional economics has mistakenly presented inequality as the price of progress. In place of this view, he offers a novel and optimistic account of the possibility of a more just economy.