IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-349-15865-2_15.html
   My bibliography  Save this book chapter

A Final Summing-up

In: Money and the Real World

Author

Listed:
  • Paul Davidson

Abstract

Any economic model which has as its objective the proposing of methods for improving the quality of human life must explicitly recognise that any such recommendations will re-quire the substitution of more conscious social or political control (or modification) of existing human institutions relative to the manner in which these human creations currently operate. When the focus of an economic model is the betterment of the public weal via accumulation and growth, it is essential to recognise that monetary rules and institutions are an ultimate and integral part of the real economy. Accordingly, any growth theory which assumes that the monetary sector always passively accommodates to the real facts underlying growth and/or any growth model which ignores the peculiar role of money which exists only because of uncertainty is simply a myth. Such models may be logically impeccable within their own assumptions; they may even withstand pragmatic, Philistine econometric ‘tests’; nevertheless they will be hopelessly misleading if they are used to provide insights into the improvement of economic life via growth.

Suggested Citation

  • Paul Davidson, 1978. "A Final Summing-up," Palgrave Macmillan Books, in: Money and the Real World, edition 0, chapter 0, pages 358-364, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-15865-2_15
    DOI: 10.1007/978-1-349-15865-2_15
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-349-15865-2_15. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.