First studied by Swiss economist Jean-Charles LAconard Sismonde de Sismondi in 1819, Making Markets and Making Money: Strategy and Monetary Exchange examines the strategic aspects of monetary exchange-specifically, of making markets. Economist Bernard C. Beaudreau, author of Mass Production, the Stock Market Crash, and The Great Depression: The Macroeconomics of Electrification, examines the strategic aspects of making markets using basic game theory. Drawing from the archaeological and historical records, Beaudreau documents the prevalence of coordination failures in trade in general, and monetary exchange in particular. He argues, convincingly, that the ability to execute trades (make markets) has been, is, and will continue to be a more important economic problem that scarcity itself.Strategy and Monetary Exchange Bernard C. Beaudreau. prices up. ... The 2002 stock market collapse, I argue, was analogous. In lieu of ... As had been the case in the 1920a#39;s, earnings growth would be achieved not via amaking marketsa but by taking advantage of foreign markets. ... Common to all three cases is the nature of the game played by producers, namely a Nash money- income (wage) game.
|Title||:||Making Markets and Making Money|
|Author||:||Bernard C. Beaudreau|
|Publisher||:||iUniverse - 2004-08|