Theoretical and Applied Economics
No. 5 / 2011 (558)
Fiat versus Representative Money under Debate, or How Right Keynes Was Once (!)
National School of Political Studies and Public Administration, Bucharest
Abstract. The applied economics understands the concept of money nearly exclusively through the quantitative theory, which certainly remains one of the greatest theories in this topic area. On the other hand, the history of money – be it old or contemporary -- finds two other “nonquantitative” theories as more relevant in the respect that they are able to “cover” this history – these are representative and fiat money. Then, there comes the interesting point: this history “covered”, meaning a full explaining of facts would be made by the two theories and images of the same money just “together”—which is impossible in basic good sense terms, as money (as anything else) cannot be real and fictitious value in the same time.
Contents
Model for the Assessment of the Effectiveness of the Banking Supervision Activity
The State and the Economy – Theoretical Aspects and Empirical Evidence for the EU
Fiat versus Representative Money under Debate, or How Right Keynes Was Once (!)
Education and Employment in Sub-Saharan Africa: Some Evidence from Senegal
Bayes-Nash Equilibrium and Game Theory in Public Expenditure Management
The Economic Crisis and Several Effects on Global Economy
Tourism as a Factor in Economic Recovery
Economic Science and Postmodernism: Ethics Return
Romanian Economic Environment Entrepreneurial Activities Analysis and Risk Evaluation
Transylvania – Romanian Tourism Micro-destination
The Crisis of Economic Theory in the Middle of the Economic Crisis