BUS726 april

The course will rest on an examination of the Global Political Economy literature, providing us with the concepts to discuss the role of the financial markets in contemporary capitalism and the volatilities arising from financial transactions. We will pay specific attention to the evolution and globalization of financial markets and the ramifications of financialization in the 21st century. The ways financial markets are regulated, steered, managed and the short-circuiting by the financial community will also be major concerns.

From: Davskischw@aol.com To: questioningdevelopment2016@gmail.com Sent: 2/2/2016 8:10:09 P.M. Eastern Daylight Time Subj: abstract Questioning Dev Cornell Oct '16: deadline Feb 8, 2016.... Abstract for Questioning Development conference/Oct.,@2016@Cornell Un.Ithaca: Monetary policies and socio economic development in the "developing world;" This paper will make several arguable points re how monetary policies can aid or hinder augmented sustainable standards of living in the "developing world." 1.) A too limited monetary supply (that is also too inequitably distributed) can often contribute to a general price deflationary downward spiral. 2.) In order for a central bank or regional central bank to successfully increase the money supply without incurring a hyper inflationary effect, those increases must receive some sort of market validation which suggests that the money will not lose its value in a dysfunctional manner. 3.) The US Federal Reserve system has been and likely will continue to be able to so increase (the US) money supply, by printing monies in order to participate in US Treasury Dept auctions. So that the rate of return which public participants in Treasury bill and bond auctions receive is then transferred onto issues purchased by the Federal Reserve with newly minted, money supply enhancing US dollars. However the interest due to the Federal Reserve may not actually need to be paid, or if paid, can be deferred. The US national debt is divided into two components, the public national debt and the internal debt "owed to government agencies." Since the Federal Reserve can print money at will, it is not so much in danger of going out of business - so long as the dollar retains its value. 3.) So far the value of the US dollar remains robust, despite recent large scale quantitative easing increases in the amounts of bills and bonds auctioned off for sale by the US Treasury. Apparently even EU sales to the US are often or perhaps always calibrated or conducted in the exchanges of US dollars. Likewise OPEC sales have been as a matter of agreement, involved the exchanges of US dollars. Such practices underlie the robust strength, the overall demand for the US dollar. And this strength in turn allows for further increases in the overall volume of the dollar supply. When a state or country is able to successfully increase its own money supply, without incurring dangerous levels of inflation, it then enters a position wherein it can expand its internal production (emphasis) without incurring dangerous levels of general deflation. This is the case, however, if and only if the government of such a state is able to funnel some of those newly printed monies into the hands and pockets of its consumer demand base. Such funneling needs to be contingently justified as fulfilling what are democratically designated societal needs that have not been adequately filled. General distributions that are not contingently justified, for example spending too much of this new monetary surplus on general undifferentiated welfare payments that are contingent free, would excessively undermine positive motivational mechanisms. Printing money without incurring hyper inflation at the developing nation level, can be done through local Treasury Dept auctions. However, the demand for such 3rd world auctions is not likely to be as robust as it is for US dollar denominated auctions. So that the prices actually offered for such auctions are likely to be quite low, resulting in dangerously high yields, which yields will have to be paid to private sector purchasers of such 3rd world auctions, thus elevating the countries national debt burdens. In order to counteract such interest rate increases, auctions could conceivably be coordinated with the Treasury Departments of the wealthier nations, so that for example, the US Treasury could agree in advance to purchase some percentage of a scheduled and proposed 3rd world auction, thus propping up the prices of the sold bond or bills, thereby allowing for an increase in the money supply without an excessive increase in the national debt, that could then be used to avert internal deflationary price spirals. Jed Schwartz Andreas Daniel Fogg 64 Bow St., #D Somerville, MA 02143 Email davskisch@aol.com Tel 617 776 6645 neither author is currently formally affiliated with either university or think tank; Andreas Daniel Fogg has written and self published 5 book length collections of his emails. Jed Schwartz is a paid up dues paying member of the ASA and the ESS.

2014

During the 1997 currency crisis, Malaysia had opted to peg its currency against US Dollar, (an action that was claimed by many as an uninterestingly orthodox) which proved to pay off. On the other hand, contemporary scholars from vast fields have started to revisit the possible usefulness of the gold Dinar as a medium of exchange, payment of zakat and dowry. This theoretical paper will aim to explore the impacts of the Gold Dinar on the economic social order. The impacts would be portrayed by curbing greed and other negative elements, creation of a focused wealth accumulation, reducing dependency on debts, creation of discipline corporate society, which will result a new Malaysian society.

2001

Bulletin of the Oxford University Institute of Economics & Statistics, 1957

This is the sixth in a series of seven papers on interest rates and it covers the various roles of interest rates: primary tool of monetary policy, bridge between present and future consumption, advancing consumption / investment with debt, interest rates’ inverse relationship with asset prices and the wealth effect, the role of interest rates in derivative instrument pricing, and interest rates’ role in foreign sector issues. The seven papers cover: (1) what are interest rates?; (2) relationship of interest rates; (3) composition of interest rates; (4) interest rate discovery; (5) bank liquidity & interest rate discovery; (6) role of interest rates; (7) an optimal rate of interest: the natural rate.