The aim of the paper is to develop a new approach to inflation based on Manes circuit of capital and the structural price equation which is hown to be simultaneously determined with the circuit equation. The feedback effect of any disequilibrium in the circuit has some important consequences for...

The central hypothesis to be tested is the relevance of gold in the determination of the value of the US dollar as an international reserve currency after 1971. In the first section, the market value of the US dollar is analysed by looking at new forms of value (financial derivative products),...