The purpose of this paper is to study the link between an important development in the physical sciences, the discovery of the law of entropy, and its impact on the evolution of heterodox monetary theory early this century. Based on the recognition that, unlike the physical world, the monetary...

The object of this paper is to show that, historically, both economists and policy makers have generally subscribed to variants of what can be generically described as the Wicksllian norm of price level stablization which necessarily assumes a certain degree of endogeneity of the money supply.

The purpose of this paper is to analyze two aspects of the flux-reflux principle that is at the core of the theory of the monetary circuit. These pertain to (i) the issue of how investment is financed and (ii) the related phenomenon of internal financing of investment and pricing. Preliminary...