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Full-Text Articles in Economic Theory
The Nature Of Money And The Theory Of International Trade: Thornton And Ricardo, Isabella M. Weber
The Nature Of Money And The Theory Of International Trade: Thornton And Ricardo, Isabella M. Weber
Economics Department Working Paper Series
A rich recent literature reinvestigates the nature of money, but little attention has been paid to the ramifications of the ways in which we theorize money for the theory of international trade. This paper examines the logical relationship between the neutrality of money and self-balancing trade based on Henry Thornton and David Ricardo as two foundational contributions to credit and commodity money theories respectively. I show that both authors theorize trade as self-balancing whenever money is conceptualized as neutral. I distinguish two notions of the neutrality of money: ex ante and ex post neutrality. In Thornton’s Paper Credit money is …
Master's Tools And The Master's House: A Historical Analysis Exploring The Myth Of Educating For Democracy In The United States, Timothy Scott
Master's Tools And The Master's House: A Historical Analysis Exploring The Myth Of Educating For Democracy In The United States, Timothy Scott
Doctoral Dissertations
Over the past forty-years, neoliberal education reform policies in the U.S. have spurred significant resistance, often galvanized by claims that such policies undermine public education as a vital institution of U.S. democracy. Within this narrative, many activists call to “save our schools” and return them to a time when public schools served the common good. With these narratives in mind, I explore the foundational and persistent power structures that characterize the U.S. as a means to reveal the fundamental purpose of its public education system. The questions that guide my research include: (1) With an understanding that capitalism, white supremacy, …
Three Essays On Macroeconomic Implications Of Contemporary Financial Intermediation, Hyun Woong Park
Three Essays On Macroeconomic Implications Of Contemporary Financial Intermediation, Hyun Woong Park
Doctoral Dissertations
This dissertation contributes to the growing literature on macroeconomic models with a financial intermediary sector. The first two chapters use the circuit of capital modeling methodology to study the relation between growth and profitability in capitalist economy where credit is essential, and the third uses a more standard macrodynamic model to investigate how securitized banking, which relies on short-term collateralized borrowing, as opposed to traditional commercial banking, generates procyclical bank leverage, which in turn leads to supply-led fluctuation in credits and ultimately to a boom-bust cycle of asset prices. In chapter 1, I extend the baseline model of circuit of …