Money Capital: New Monetary Principles for a More Prosperous Society

A novel perspective on monetary and fiscal policy that views money as the equity capital of a nation

A conventional economic theory, monetarism, holds that inflation is a monetary phenomenon driven by changes in the supply of money. Yet recent experience—including the aftermath of the financial crisis of 2008 and the economic development of China—contradicts this basic prediction. In this book, leading economists Patrick Bolton and Haizhou Huang offer a novel perspective, viewing monetary ec...