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9781840649185

Carl Menger and the Evolution of Payments Systems : From Barter to Electronic Money

by ;
  • ISBN13:

    9781840649185

  • ISBN10:

    1840649186

  • Format: Hardcover
  • Copyright: 2002-11-01
  • Publisher: Edward Elgar Pub
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List Price: $127.00

Table of Contents

List of Contributors
vii
List of Tables
viii
Introduction 1(10)
Michael Latzer
Stefan W. Schmitz
PART I: CARL MENGER'S ARTICLE `MONEY': FROM BARTER TO MONEY
Carl Menger's article `Money' in the history of economic thought
11(14)
Erich W. Streissler
Menger's main themes
11(6)
The functions of money and the concepts of its value
17(2)
The demand for money
19(2)
The influence of Menger's monetary thought on later theory
21(4)
Money
25(86)
Carl Menger
Leland B. Yeager
Monika Streissler
The origin of generally used intermediaries of exchange
26(9)
The controversy among economists and jurists over the nature of money and its distinctiveness as compared with other goods
35(4)
The emergence of precious-metal money
39(2)
The perfecting of metallic money through coinage of the metals
41(4)
The perfecting of the monetary and coinage system by government
45(4)
Money as a medium of unilateral and substitute transfers of wealth
49(2)
The `function' of money as medium of payment (or settlement)
51(1)
Money as a medium of hoarding, capital accumulation, and transfers of wealth in time and space
52(2)
Money as intermediary in capital transactions
54(1)
Money as `measure of price' (indicator of price)
55(3)
Money as standard of the exchange value of goods
58(16)
The concept of money as derived from its functions
74(3)
Is legal tender part of the concept of money or is the latter merely perfected by legal tender?
77(6)
The demand for money
83(28)
Translator's Notes by Leland B. Yeager
108(3)
PART II: PERSPECTIVES ON THE EVOLUTION OF ELECTRONIC MONEY
Carl Menger's `Money' and the current neoclassical models of money
111(22)
Stefan W. Schmitz
Search models
113(4)
Overlapping generations model
117(3)
Spatial separation models
120(3)
Current neoclassical models of money and Mengerian institutional analysis
123(4)
Conclusion
127(6)
Mengerian perspectives on the future of money
133(26)
George A. Selgin
Lawrence H. White
Menger's project and ours
133(1)
The rise and fall of monetary nationalism: retail payments
134(9)
Bank reserves, interbank settlement and wholesale payments
143(4)
Implications for monetary policy
147(4)
Whither fiat money?
151(8)
The institutional character of electronic money schemes: redeemability and the unit of account
159(26)
Stefan W. Schmitz
Currency competition: the literature
160(10)
Institutional change in the payments system: redeemability and the unit of account
170(6)
Conclusion
176(9)
Index 185

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