Some puzzles about money, finance and the monetary circuit
讨论了货币流通速度、马克思货币循环概念以及是否存在足够货币购买全部产出这三个谜题,对经济金融危机时期尤其重要,但常被主流经济学忽视。
This paper discusses three puzzles about money and finance, having to do with the velocity of circulation, the Marxian concept of the monetary circuit and the deceptively simple question of whether there is enough money in existence at any point in time to purchase the full value of output. These issues take on particular significance at times of economic and financial crisis, but have often been neglected by the mainstream of the economics profession, leaving the field to Keynes’s ‘brave heretics’.