The Theory of Money and Financial Institutions Vol 2 or U S Development Aid a Historic First

The Theory of Money and Financial Institutions - Vol. 2

Author: Martin Shubik

This is the second volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form. The approach involves a search for minimal financial institutions that appear as a logical, technological, and institutional necessity, as part of the "rules of the game." Money and financial institutions are assumed to be the basic elements of the network that transmits the sociopolitical imperatives to the economy.

Volume 1 deals with a one-period approach to economic exchange with money, debt, and bankruptcy. Volume 2 explores the new economic features that arise when we consider multi-period finite and infinite horizon economies. Volume 3 will consider the specific role of financial institutions and government, and formulate the economic financial control problem linking micro- and macroeconomics.

Table of Contents:

	Preface
I	Multiperiod Exchange	1
1	Multiperiod Trade with Commodity Money and Nondurable Goods	3
2	Multiperiod Trade with Commodity Money and Durable Goods	29
3	Multiperiod Trade with Commodity Money and Credit	59
4	Multiperiod Trade with Fiat Money and Credit	77
II	Trade and the Infinite Horizon	111
5	Multiperiod Trade: Transactions and the Float	113
6	Capital Stock, Salvage Values, and Expectations	143
7	Expectations, Uncertainty, Information, and Finance	175
8	Money, Credit, and Incomplete Markets	189
9	Multiperiod Trade with Money, Credit, Assets, and Overlapping Generations	229
III	Money and Institutions	271
10	Transactions Technology and Costs	273
11	Brokers, Dealers, and Setup Costs	291
12	Money, Institutions, and Political Economy	313
	References	351
	Name Index	361
	Subject Index	365

See also: Love Hunger or Awakening the Spine

U. S. Development Aid--A Historic First: Achievements and Failures in the Twentieth Century

Author: Samuel Hale Butterfield

The first comprehensive account of U.S. development aid policies and implementation operations in Africa, Asia, and Latin America, this work is a unique contribution to world history and to the extensive literature on "Third World" development. Butterfield begins with the remarkable story of why, in 1949, President Truman surprised Americans with his unprecedented development aid policy. He then describes the major alterations in U.S. development aid strategy and operations from 1950 to 2000. Drawing upon his long experience both in Washington and in country aid missions, Butterfield puts a human face on the story by weaving real world vignettes into his narrative.