Economics of Money and Banking
Contents: Preface. 1. The history of money and banking. 2. International law and trade. 3. Models in economics. 4. International new trade and legal theory. 5. History of international banking. 6. Principles of money and banking. 7. Perspectives of financial market. 8. Currency crises and capital controls. 9. Potential implications of recent regulatory developments. 10. World Trade Organizations and agreements. Bibliography. Index.
The importance of money reflects the most fundamental nature of a modern economic system. In a society without extended division of labor, in which every family produces almost all that they consume, there would be little need for money.
However, in a society of the kind that Adam Smith envisioned--that is, a society like the one in which we live, with a very extended division of labor--it is hard to imagine living without a monetary system. This chapter explores some of what we economists think we know about money. Trade and exchange are almost as old as the human species. (jacket)
The importance of money reflects the most fundamental nature of a modern economic system. In a society without extended division of labor, in which every family produces almost all that they consume, there would be little need for money.
However, in a society of the kind that Adam Smith envisioned--that is, a society like the one in which we live, with a very extended division of labor--it is hard to imagine living without a monetary system. This chapter explores some of what we economists think we know about money. Trade and exchange are almost as old as the human species. (jacket)
