Endogenous money, circuits and financialization

Article OPEN
Malcolm Sawyer;
(2013)
  • Journal: Review of Keynesian Economics,volume 1,issue 2 Jan,pages230-241
  • Subject: endogenous money, monetary circuit, financial instability
    • jel: jel:E40 | jel:E44

This paper locates the endogenous money approach in a circuitist framework. It argues for the significance of the credit creation process for the evolution of the economy and the absence of any notion of ‘neutrality of money’. Clearing banks are distinguished from o... View more
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