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Alvaro Cencini & Sergio Rossi, Economic and Financial Crises: A New Macroeconomic Analysis

Author

Listed:
  • Jonathan MASSONNET

    (University of Fribourg, Switzerland.)

Abstract

Thereviewed bookdevelops a newparadigm regarding economic and financial crisesat both the national and international level.That paradigm rests on the purely numerical and vehicular nature of money, from which Cencini and Rossi infer the fundamental laws governing a monetary economy of production. The pathologies of the economic system are then characterized in light of these laws. In order to avoid the recurrence of crises, the authors eventually put forward a reform of the domestic and the international payment systems, which rests on a distinction between money, income and fixed capital developed throughout the book. After a short introduction, this review offers a description of the book and ends up drawing some implications, especially as pertains to the nature of money and the characterization of crises.

Suggested Citation

  • Jonathan MASSONNET, 2015. "Alvaro Cencini & Sergio Rossi, Economic and Financial Crises: A New Macroeconomic Analysis," Journal of Economics and Political Economy, EconSciences Journals, vol. 2(4), pages 507-514, December.
    • Handle: RePEc:cvv:journ1:v:2:y:2015:i:4:p:507-514
    as

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    References listed on IDEAS

    as
    1. Paul Davidson, 1978. "Money and the Real World," Palgrave Macmillan Books, Palgrave Macmillan, edition 0, number 978-1-349-15865-2, April.
    2. Claude Gnos & Sergio Rossi, 2012. "Modern Monetary Macroeconomics. A New Paradigm for Economic Policy," Post-Print halshs-01231783, HAL.
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    Keywords

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    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Systems; Standards; Regimes; Government and the Monetary System
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General

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