This book provides the grounding for a new approach to monetary economics, elicits a new understanding of the conditions behind today's monetary disorders and prescribes new remedies to cure them once and for all.

This work provides a new approach to monetary economics, based on the book-keeping nature of money. The main themes of macroeconomics are examined to show how we may improve our understanding through a thorough analysis of their monetary aspects. Money is the key element and its role is investigated in relation to value, prices, profits, capital and interest. Alvaro Cencini's analysis rejects the traditional, net asset definition of money, arguing that despite appearances to the contrary, money is issued by banks as a mere numerical form. It is through its association with production that it is given its positive value, purchasing power. The resulting theory elicits a new understanding of the conditions behind today's monetary disorders and prescribes new remedies to cure them once and for all.

Chapter One: Money, Value and Prices
The problem
Money and value
Money and relative prices
Money as a pure numerical form
Money, value and absolute prices
Chapter Two: Money and Exchange
Money and relative exchange
General equilibrium models of monetary economics
A fundamental critique to GEA
Money and absolute exchange
Chapter Three: Money, Credit and Banks
Money and credit
Money and banks
Credit and banks
Chapter Four: Money and Production
Production as a circular flow
Production as a one-way process
Production as a process of creation and exchange
Chapter Five: Money and Capital
Labour, time and capital
The neoclassical approach to capital
Income, capital and time
Chapter Six:
Money, Capital and Interest
Interest, exchange and credit
Interest, income and production
Interest and fixed capital
Chapter Seven: Order Versus Disorder
The neoclassical approach to economic disorder
The classical analysis of monetary disorder and recession
Keynes' contribution revisited
Unemployment, capital accumulation and interest rates