Banii, băncile centrale, politica monetară şi reglementarea sistemului bancar modern
[Money, central banks, monetary policy and regulation of modern banking system]
The “new” economy seems to be vulnerable to cyclical shocks that increased in magnitude and induced higher volatilities on the markets. The role assumed by state in this equation of markets’ equilibrium significantly increased. The causes of current crisis of modern economies are strongly related to the nature of money, the role of “fiat-money” as exchange support for real transactions and the impact of central banks and their monetary policy on the economic stability. Even we are tempted to consider that current crisis are the effect of free market failure, one of the source of crisis is the public intervention on the free market. This article offers a different perspective than the mainstream vision on these particular aspects, providing a better understanding of crisis and the role played by state through monetary institution in this sensitive matter.
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- Friedman, Milton, 1982. "Monetary Policy: Theory and Practice," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 14(1), pages 98-118, February.
- Friedman, Milton & Schwartz, Anna J, 1969. "The Definition of Money: Net Wealth and Neutrality as Criteria," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 1(1), pages 1-14, February.
- Friedman, Milton, 1982. "Monetary Policy: Theory and Practice: A Reply," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 14(3), pages 404-406, August.
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