This Companion is a comprehensive introduction to Modern Money Theory (MMT), covering a wide variety of topics from the nature and origins of money, to the fundamentals of government spending and taxation, to the application of MMT in developed and developing countries.

The Elgar Companion to Post Keynesian Economics is a comprehensive guide to economic analyses in the tradition of Keynes and the so-called Cambridge (UK) school of economics. The coverage of themes and different theoretical orientations within Post Keynesianism is remarkable and the quality of the various entries is impressive. John Kings invisible hand is responsible for a minimum of overlaps and an optimum in quality and comprehensibility. This book has already proved to be of interest to a wide range of economists and can be expected to continue to do so for a long time to come. Heinz D. Kurz, University of Graz, Austria This thoroughly revised and updated second edition provides a comprehensive guide to Post Keynesian methodology, theory and policy prescriptions. The Companion reflects the challenges posed by the global financial crisis that began in 2008 and by the consolidation of the New Neoclassical Synthesis in macroeconomic theory. There are 41 entirely new entries, marking the emergence of a new generation of Post Keynesian scholars. The central issues that were dealt with in the first edition remain at the core of the book, but much more attention is paid in this second edition to financial markets, to Post Keynesian economics outside its traditional Anglo-American heartland and to gender issues and environmental policy. Including major theoretical, methodological and policy issues in Post Keynesian economics, this enriching Companion will strongly appeal to postgraduate and advanced undergraduate students in economics as well as related social science disciplines including international political economy, international relations, politics, public policy and sociology.

'These valuable contributions will be very useful to students and nonspecialists wanting a clear introduction to specific topics or a convenient volume to browse to get a feel for a broader area of study. A welcome addition to any library.' – M. Perelman, Choice '. . . an excellent short encyclopedia of radical political economies. . . Even experienced scholars could read a number of the entries to refresh themselves or to introduce themselves to new areas of inquiry. Every university and college library should have a copy.' – William M. Dugger, Southern Economic Journal 'Elgar's companions are a joy to read from cover-to-cover. . . The volume is indexed and belongs in every library.' – William M. Dugger, Journal of Economic Issues '. . . this is a worthwhile volume deserving a browse by anyone with radical pretensions.' – Keith Cowling, The Economic Journal This major reference book has been designed to provide a comprehensive coverage of radical political economy. International in scope, The Elgar Companion to Radical Political Economy includes contributions from a very wide range of specialists who discuss topics, ideas and theories in the field. Radical political economy is a term used to encompass a range of different schools of thought. These include post Keynesian, Kaleckian, Marxian, Institutionalist, Sraffian and other approaches to economics which share the common theme of production, rather than the exchange focus of neoclassical and Austrian economics. Their concern with the generation and use of the surplus leads them to an interest in dynamics, income distribution, growth and development, and capital accumulation. With over 100 entries, the companion provides detailed information on a wide range of aspects of radical political economy as well as some important insights into its theoretical underpinning. A special feature of the book is its emphasis upon explaining the positive elements in radical political economy. As the first book of its kind devoted to radical political economy, the companion will be an essential reference source for scholars and students with an interest in the development of economic ideas.

ÔAt a time of renewed interest in Keynes, this volume provides an illuminating and forward-looking collection of papers. They explain the meaning of KeynesÕs great contribution and also show how that contribution can be developed further for application to modern economic policy issues. Most important, the papers explain the ways in which KeynesÕs methodological approach is so different from that which continues to dominate mainstream economics and how productive it would be if that approach were applied to our modern experience.Õ Ð Sheila Dow, University of Stirling, UK ÔThis book celebrates the 75th anniversary of KeynesÕs General Theory, which has proved yet again to be an endless source of inspiration. These authors take The General Theory as a point of departure from which to address the problems of today from fresh perspectives. This volume is indeed Keynes for today Ð and tomorrow.Õ Ð Victoria Chick, University College London, UK ÔKeynesÕs General Theory for Today is a fine set of thoughtful and highly relevant essays. They relate several ideas of Keynes to todayÕs happenings, putting forward modifications and extensions to take into account both short-term and long-term happenings in advanced capitalist economies. Especially useful are the investigations of KeynesÕs revolutionary methods of reasoning in economics, long abandoned by orthodox economists, to the great detriment of our understanding of what is happening and what may be done about it. These essays should be required reading for students, teachers and policy makers alike.Õ Ð G.C. Harcourt, University of New South Wales, Australia The themes of this important new volume were chosen to mark the 75th anniversary of the publication of The General Theory of Employment, Interest and Money. The distinguished authors concentrate on the relevance of this seminal publication for macroeconomic theory, method and the politics of today. This is particularly pertinent as similarities with the 1930s are striking in terms of unemployment, low growth, financial fragility and the European monetary union resembling the gold standard. Illustrating new ways of understanding the importance of uncertainty in macroeconomics, particularly in view of the importance of finance and balance of payments imbalances within a monetary union, this book will prove a stimulating and challenging read for academics, researchers and students of macroeconomics, heterodox economics, and the methodology and history of economic thought.

The most influential and controversial economist of the twentieth century, John Maynard Keynes was the leading founder of modern macroeconomics, and was also an important historical figure as a critic of the Versailles Peace Treaty after World War I and an architect of the Bretton Woods international monetary system after World War II. This comprehensive Companion elucidates his contributions, his significance, his historical context and his continuing legacy.

The Elgar Companion to Economics and Philosophy aims to demonstrate exactly how these two important areas have always been linked, and to illustrate the key areas of overlap. The contributors are well-known and distinguished authors from a variety of disciplines, who have been invited both to survey and to provide a personal assessment of current and prospective future states of their respective areas of philosophical interest.

This volume concentrates on contemporary Post-Keynesian contributions in money, method and economic policy. Post-Keynesian economics shares with Keynes the ambition of understanding the economy as a whole and as an integrated part of society. The book begins by analysing money, banks and finance as dynamic phenomena, followed by chapters focusing on methodological themes such as uncertainty, longer-term issues, sustainability and other non-monetary economic activities.

Arguably one of the most important economists who has lived, Ricardo's impact on the economics profession is immense. This unique and comprehensive Companion elucidates his significance and continuing legacy. Ricardo made major contributions to all fields of the subject, from monetary issues to value and income distribution, from capital accumulation, technical progress and economic growth to foreign trade and international specialisation, and from taxes to public debt. What he called the main problem of political economy, the distribution of income and wealth, is again back on the political and economic agenda with a vengeance. Leading experts in the field explore his influence and offer novel interpretations of received doctrines.

The international monetary system, and the disparate systems that make it up, are complex and there are many fallacies surrounding the ways in which they work. This book provides a clear and rigorous understanding of these systems and their possible consequences.

This second edition explores how money 'works' in the modern economy and synthesises the key principles of Modern Money Theory, exploring macro accounting, currency regimes and exchange rates in both the USA and developing nations.