Articles liés à Money What it is How it works: Second Edition

Money What it is How it works: Second Edition - Couverture souple

Hummel, William

 
9780595424153: Money What it is How it works: Second Edition
Couverture souple
ISBN 10 : 0595424155 ISBN 13 : 9780595424153
Editeur : iUniverse, 2006

Synopsis

For centuries, money was viewed as tokens with intrinsic value, like gold or silver coins. Paper currencies were often used as substitutes, but they were only accepted on the promise they could be converted on demand into "hard money." The era of hard money ended in the mid-20th century. Today every major industrial nation creates its own currency in the form of intrinsically worthless tokens known as fiat money. Most other forms of money are viable only to the extent they can be converted on demand into the government's fiat money. Operating in a fractional reserve regime, banks expand the money supply by creating deposits as they issue loans to borrowers. Bank money is now the principal form of money used within the private sector. Some economists believe fractional reserve banking creates serious problems for the economy in terms of inflation and the misuse of credit. The last essay in this book examines in some detail the basic properties of a fully-backed depository system and proposes a particular implementation.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

Présentation de l'éditeur

For centuries, money was viewed as tokens with intrinsic value, like gold or silver coins. Paper currencies were often used as substitutes, but they were only accepted on the promise they could be converted on demand into "hard money." The era of hard money ended in the mid-20th century. Today every major industrial nation creates its own currency in the form of intrinsically worthless tokens known as fiat money. Most other forms of money are viable only to the extent they can be converted on demand into the government's fiat money. Operating in a fractional reserve regime, banks expand the money supply by creating deposits as they issue loans to borrowers. Bank money is now the principal form of money used within the private sector. Some economists believe fractional reserve banking creates serious problems for the economy in terms of inflation and the misuse of credit. The last essay in this book examines in some detail the basic properties of a fully-backed depository system and proposes a particular implementation.

Biographie de l'auteur

William Hummel?s formal education was in science and engineering. He received a bachelor degree in physics from UC Berkeley and a masters degree in electrical engineering from USC. His professional career was in the field of guided missiles and spacecraft engineering, mainly at Hughes Aircraft Company where he became Chief Scientist of the Controls Laboratory in the Space Systems Division. During his forty years at Hughes, he was engaged in the design and development of flight control systems for several guided missiles, synchronous orbit communication satellites, and science mission spacecraft. The latter included the Surveyor, which in 1966 was the first spacecraft to soft land on the moon.His interest in monetary systems and economics developed after he retired in 1990. The impetus came from internet discussion groups and e-mail exchanges with a number of economists. For the last twelve years, much of his time has been spent in the study of macroeconomics as influenced by the social institution we call money.

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
iUniverse
Date d'édition
2006
Langue
anglais
ISBN 10 
0595424155
ISBN 13 
9780595424153
Reliure
Broché
Numéro d'édition
2
Nombre de pages
100
Coordonnées du fabricant
non disponible
Personne responsable
gpsr@libri.de
gpsr@libri.de

Europaallee 1
Bad Hersfeld
36244
Allemagne