How Credit-money Shapes the Economy: The United States in a Global System

This text examines money, credit, and economic activity in the increasingly integrated global economy. It focuses on the problems afflicting the United States as it adapts to the transformation of the world economy. I: The Theory of Money; 1: The Economy in Transition; 2: Economic Activities as Monetary Circuits; 3: The Cyclical Growth Pattern of Capital Accumulation; II: The Historic Evolution of Money Management; 4: The Transition from Commodity-Money to Credit-Money; 5: The Postwar Monetary Regime and Its Inflationary Bias; III: The End of the New Deal; 6: Stagflation and Financial Instability; 7: The Disintegration of the Postwar Monetary Regime; 8: The Legacy of Reaganomics; IV: The Monetary Regime in Transition; 9: The Dilemmas of Monetary Policy; 10: Financial Fragility and the Lender of Last Resort; 11: Regulatory Overhaul and the Restructuring of U.S. Banks; 12: Deal Mania and Fictitious Capital; V: The International Dimension of Money; 13: The Challenges of Global Integration; 14: The International Monetary System in Flux; 15: Supranational Credit-Money; 16: Toward a True Form of World Money; VI: Restructuring the American Economy; 17: The United States at the Crossroads