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Challenging the validity of much of mainstream macroeconomics, Basil Moore argues that the money supply in modern economies is not under the control of central banks, but rather is determined by borrower demand for bank credit. He then explores the implications of this perception for conventional macroeconomic theory. Mainstream analysis takes the view that central banks have it in their power to initiate exogenous changes in the nominal supply of money. In contrast to this "verticalist" view, this book contends that the supply of credit money is endogenous, and responds to changes in the demand for bank credit. This new "horizontalist" view holds that cental banks have the ability to set the supply price of money through short term interest rates, but not the quantity of money. Concluding that a new macroeconomic paradigm must be developed, Moore attempts to initiate the larger task of theory reconstruction that lies ahead.
A powerful oral history of modern day revolutionary Argentina. The social movements, neighborhood assemblies, and occupied factories.
Here is one of the first books to assert that mass protest movements in disparate places such as Greece, Argentina, and the United States share an agenda-to raise the question of what democracy should mean. These horizontalist movements, including Occupy, exercise and claim participatory democracy as the ground of revolutionary social change today. Written by two international activist intellectuals and based on extensive interviews with movement participants in Spain, Venezuela, Japan, across the United States, and elsewhere, this book is both one of the most expansive portraits of the assemblies, direct democracy forums, and organizational forms championed by the new movements, and an analytical history of direct and participatory democracy from ancient Athens to Athens today. The new movements put forward the idea that liberal democracy is not democratic, nor was it ever.
Collects first-hand experiences from around the world of people creating their own networks of solidarity and mutual aid in the time of Covid-19.
This collection is designed to offer a comparative analysis of street-level protest movements, setting them in international, socio-economic, and cross-cultural perspective in order to help us understand why movements emerge, what they do, how they spread, and how they fit into both local and worldwide historical contexts.
Explores how republican political thought can make a constructive and distinctive contribution to our understanding of democracy and the challenges it faces.
'It's been a long time since a text was so useful in helping me think through our present moment and my role within it. The End of The End of History is a clear, powerful and panoramic analysis of our world at the dawn of the 2020s.' Vincent Bevins, author, The Jakarta Method The “End of History” is over. The idea that Western liberal democracy was the “final form of human government” has been exposed as bluster: the old order is crumbling before our eyes. Angry anti-politics have arisen to threaten political establishments across the world. Elites have fallen into hysteria, blaming voters, “populism”, Putin, Facebook... anyone but themselves. They are suffering from Neoliberal Order Breakdown Syndrome. Emerging from four years of interviews and debates on the popular global politics podcast Aufhebunga Bunga, The End of the End of History examines how the political consequences of the 2008 financial crisis have come home to roost. If Trump and Brexit shattered the liberal-democratic consensus in 2016, then the global pandemic of 2020 put a final end to the “End of History”. Politics is back, but it's stranger than ever.
Since its appearance in Zuccotti Park, New York, in September 2011, the Occupy movement has spread to hundreds of towns and cities across the world. Through talks and conversations with movement supporters, 'Occupy' presents Chomsky's latest thinking on the central issues, questions, and demands that are driving people to protest.
The endogenous nature of money is a fact that has been recognized rather late in monetary economics. Today, it is explained most comprehensively by the theory of money in post-Keynesian monetary theory. The expert contributors to this enlightening book revisit long-standing debates on the endogeneity of money from the position of both horizontalists and structuralists, and prescribe new areas of research and debate for post-Keynesian scholars to explore.