Theantithesis,use-valueandvalue;thecontradictionsthatprivatelabourisboundtomanifestitselfasdirectsociallabour,thataparticularisedconcretekindoflabourhastopassforabstracthumanlabour;thecontradictionbetweenthepersonificationofobjectsandtherepresentationofpersonsbythings;alltheseantithesesandcontradictions,whichareimmanentincommodi...
学习资源来自Coursera:The economics of money and banking [Perry G. Mehrling]。 Lecture notes: “All banking is a swap of IOU.” 这句话阐明了梅林教授这门课程中“银行”这一概念的核心内涵,所有银行业务都是一种借据交换。 具体而言,假设这个世界上只有一家银行,当客户向这家银行借一笔钱,相当于客户给...
Monetary policyrefers to the central bank’s actions that affect the quantity of money and credit in an economy in order to inluence economic activity. Monetary policy is said to beexpansionary(oraccommodativeoreasy) when the central bank increases the quantity of money and credit in an economy....
The letter of credit eventually evolved into the bill of exchange, or promissory note, between banks, used for business transactions. In 1772, the London Exchange Banking Company in England offered its clients a version for everyday use: Called “circular notes,” they were issued in set denomi...
check to the central bank, which debits Bank 2's account and credits Bank 1's account. The firm can now use its deposit credit to repay its loan to Bank 1. The deposit created in step one is “destroyed”—wiped clean from the balance sheets—and the firm's loan is simultaneously ...
The money market is an integral part of the financial market in which financial instruments with high liquidity and short maturities are traded. The bond market is also known as the debt, credit, or fixed income securities market. Mortgage markets are where mortgage loans are traded. The money...
But for Americans who rely heavily on credit, it’s been devastating. But it’s not just overall asset inflation and price inflation. Easy money also distorts relative prices in the economy. Sharma noted more subtle damages. Since investors “can’t make anything on government bonds when ...
[translate] aHard cash is money in the form of notes and coins as opposed to a cheque or a credit card 正在翻译,请等待...[translate]
It took years to get all the foreign coins as well as competing state and local bank currencies out of circulation. Banks issued their own notes during this time period, which was technically illegal as only Congress and the federal government had this power. Most of these banks issued more ...
It's hard to track the actual amount of money in the economy because many things can be defined as money. Obviously, paper bills and metal coins are money. Savings accounts and checking accounts represent direct and liquid money balances. Money market funds, short-term notes, and other reserv...