The API Blog Expanded and Improved!

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What is a Theory of Money? By Graham Hubbs

As is true of any other social kind, money can be studied in a variety of ways, for a variety of reasons, towards one or several of a variety of ends. A businessperson who wants to know how to make money might study the way it is produced in markets to enrich themselves. They might not think much about what, at its core, money is, even though it rules everything around them. Many academic economists, similarly ruled by money, likewise take next to no interest in its ontology even though they talk constantly about it.

Can Heterodox Economics Make a Difference?: Conversations With Key Thinkers, by Phil Armstrong, Published by Edward Elgar (advertised publication date 27 Nov. 2020, hardcover) https://www.e-elgar.com/shop/gbp/can-heterodox-economics-make-a-difference-97

The book follows from my PhD primary research programme and my reflection that, on the face of it, the ability of mainstream economics to survive the global financial crisis with its hegemony seemingly intact is quite surprising. The profession claims to be essentially positivist in approach. They have described their own practice as consisting of developing theory on the basis of a priori assumptions about human behaviour.