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The Existence of Monetary Profits within the Monetary Circuit

In: The Monetary Theory of Production

Author

Listed:
  • Louis-Philippe Rochon

Abstract

The many writings of Augusto Graziani have had a large influence on a generation of younger economists who have taken his writings to heart. In my own case, I have been seduced by many of his ideas on the monetary circuit including his perceptive analysis of initial and final finance. In this chapter, I would like to turn to a topic that has raised considerable debate and on which Professor Graziani had much to contribute.

Suggested Citation

  • Louis-Philippe Rochon, 2005. "The Existence of Monetary Profits within the Monetary Circuit," Palgrave Macmillan Books, in: Giuseppe Fontana & Riccardo Realfonzo (ed.), The Monetary Theory of Production, chapter 8, pages 125-138, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52307-4_9
    DOI: 10.1057/9780230523074_9
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    Citations

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    Cited by:

    1. Seppecher, Pascal, 2014. "Pour une macroéconomie monétaire dynamique et complexe," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 16.
    2. Alberto Botta & Eugenio Caverzasi & Daniele Tori, 2015. "Financial–Real-Side Interactions in an Extended Monetary Circuit with Shadow Banking: Loving or Dangerous Hugs?," International Journal of Political Economy, Taylor & Francis Journals, vol. 44(3), pages 196-227, July.
    3. Keen, Steve, 2013. "A monetary Minsky model of the Great Moderation and the Great Recession," Journal of Economic Behavior & Organization, Elsevier, vol. 86(C), pages 221-235.
    4. Javidanrad, Farzad, 2021. "Paradox of Monetary Profit, Shortage of Money in Circulation & Financialisation," The Warwick Economics Research Paper Series (TWERPS) 1365, University of Warwick, Department of Economics.
    5. Egmont Kakarot-Handtke, 2013. "The Emergence of Profit and Interest in the Monetary Circuit," World Economic Review, World Economics Association, vol. 2013(2), pages 106-106, February.
    6. Cavalieri, Duccio, 2015. "On stock-flow consistent approaches and the like: the ‘rediscovery’ of model building," MPRA Paper 67050, University Library of Munich, Germany, revised 02 Oct 2015.
    7. Jiří Štekláč & Vladimír Štípek, 2017. "Smoothing Out The Credit Cycle Under The Conditions Of Current Credit Economy," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 11(1), pages 526-546.
    8. Richters, Oliver & Siemoneit, Andreas, 2017. "Consistency and stability analysis of models of a monetary growth imperative," Ecological Economics, Elsevier, vol. 136(C), pages 114-125.
    9. Gross, Marco, 2022. "Beautiful cycles: A theory and a model implying a curious role for interest," Economic Modelling, Elsevier, vol. 106(C).
    10. Sergio Cesaratto, 2016. "When Robertson was Keynesian and Keynes Robertsonian: a discussion between D.H.R. and J.M.K. in the early 1930s and the problems with the Monetary Circuit Theory. A note," Department of Economics University of Siena 732, Department of Economics, University of Siena.
    11. Pokrovskii, Vladimir N. & Schinckus, Christophe, 2016. "An elementary model of money circulation," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 463(C), pages 111-122.
    12. Massimo Cingolani, 2010. "PPP Financing in the Road Sector: A Disequilibrium Analysis Based on the Monetary Circuit," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 17(3), pages 513-550, September.

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