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Preface; Acknowledgments; Contents; Chapter 1: The Enigma of€Money: If We€Understand Money, We€Will Understand Economy; 1.1 What Is the€"Economy"?; 1.2 Plural Visions of€"Market": Market as€Metaphor; 1.3 "Economy" Is a€Living Thing; 1.4 If We€Understand Money, We€Will Understand Economy; 1.5 The Enigma of€Money: A€"Thing" or an€"Event"?; Chapter 2: Is Money a€"Thing" or an€"Event"? Reconsidering Money and€Market; 2.1 Money and€Okane; The Okane Story; Anything Can Be€the€Material of€Money; Religious and€Psychological Functions of€Money; 2.2 What Is "Market"?: Modern Economics Neglects Money. No Money, No Market/Commodity Fictitious Markets in€Modern Economics: What Is a€"Concentrated" Market?; A Real Market: What Is a€"Distributed" Market?; Bilateral Transactions Are Basic in€a€Real "Distributed" Market; Hicks' Classification of€Markets: Flexprice and€Fixprice Markets; 2.3 How Distributed Markets Work: Stock Markets and€the€Electronic Bazaar in€the€Real State of€Affairs; How "Price" Is Determined; Market Price Fixing in€Stock Markets: Itayose and€Zaraba; The Stock Market as€a€Model of€General Equilibrium Theory; Electronic Markets Two Decades Ago. Face-to-Face Trades and€the€Market for€Lemons Money Turns a€Thing into€a€"Commodity" and€a€Place for€Trading "Commodities" into€a€"Market"; 2.4 The Principles of€Generating Money; Is Money the€Same as€Language?; Love and€Barter Have Something in€Common; When Money Comes into Existence; A Generative Model of€Money; Imitation of€Others' Wants Brings Money into Being; Diversity in€Money; Negative Possibilities with€Money; 2.5 Robinson Crusoe and€Stone Money on€Yap Island; The Story of€Robinson Crusoe Tells How Hard It Is to€Escape from€Money; "Economy" Without a€"Society." Stone Money on€Yap Island Anything Can Be€Money; Chapter 3: Money as€"The Self-Fulfillment of€an€Idea": The€Difference Between a€Bank of€Japan Note and€Bitcoin; 3.1 Why Talk About Money Leads Us into a€Circular Logic; Four Functions of€Money; The Differences Between Money and€Commodities; Money as€the€Emperor; Talk About Money Quickly Ends Up€in€a€Circular Logic; 3.2 Thinking About€Money Through€"The Emperor's New Clothes"; A Ten Thousand Yen Bill as€a€Self-Fulfilling Idea; Money and€the€Story of€"Emperor's New Clothes"; The Emperor Is Great, Even If He€Is Wearing Nothing. Access Gift and a Ten Thousand Yen Bill The Self-Fulfillment of Custom; The Self-Fulfillment of Expectations; Reality Is Strong When Built by Custom and Expectations; 3.3 Yenten as Pseudo-money; The Yenten Incident; Yenten as a Ponzi Scheme; Pseudo-Money by Means of a "Prepaid Payment Instrument"; Penny Auction; 3.4 What Does Bitcoin Tell Us?; Bitcoin: A Crypto-currency; Problems with Bitcoin; Bitcoin Spreads Out; Bitcoin and Free Software; Bitcoin Points to the Future: Denationalization of Money and Competing Currencies; 3.5 What Does the Informatization of Currency Mean?

This book provides a new way of understanding modern money and markets by stressing their self-fulfilling/self-destructive properties as institutions from evolutionary perspectives. In contrast to an unrealistic view of the neoclassical general equilibrium theory that models the price mechanism of a “concentrated market” without using money, presented here is an alternative theory of markets on how a realistic “dispersive market” using a stock of money and inventory as buffers can work as a multilayered price-quantitative adjustment system. The central features of modern sovereign moneys seen in inconvertible IOUs of central banknotes can be depicted as “The Emperor's New Clothes” that correspond to the U.S. dollar and the Euro void of their own value. The image captures such characteristics of national currencies as “self-fulfilling ideas” by the inertia of conventions in the past and expectations of an uncertain future. Both ideas normally make money more acceptable and circulative so that its value can become more stable unless expectations for the future turn very pessimistic. The same logic also applies to such other currencies as Bitcoin and community currencies. Their recent diffusion has shown that Hayek's idea of denationalization of money and competition between multiple currencies in terms of its qualities, not its quantities sought as in ongoing quantitative easing, become more relevant under current situations. The qualities of money refer not only to stable monetary values and low transaction costs, but also to high ability in creating, sharing, and communicating social and cultural value. The potential of the logic of self-fulfillment of ideas can thus open up a new economic society when we realize that such various non-national currencies all depend on the same logic of money.

Library	Materyal Türü	Demirbaş	Yer Numarası	Durumu / Lokasyon / İade Tarihi
Ekonomi Kütüphanesi	Kitap	EKOBKN0003528	330 NIS 2016	Merkez Kütüphane Genel Koleksiyon