Monday, July 16, 2012

Michael Hudson Talk on the History of Money

A talk by Michael Hudson at a joint seminar on Modern Monetary Theory (MMT) and Monetary Circuit Theory, which was held at the Fields Institute (Canada) on July 3rd, 2012.

Hudson talks about the history of money, with some good background on the debt theory of money, and money in ancient Mesopotamia. For the published work of Hudson on the origins of money, see here:
Hudson, M. 2003. “The Creditary/Monetarist Debate in Historical Perspective,” in S. A. Bell and E. J. Nell (eds), The State, the Market, and the Euro: Chartalism versus Metallism in the Theory of Money, Edward Elgar, Cheltenham. 39–76.

Hudson, M. 2004. “The Archaeology of Money: Debt Versus Barter Theories of Money’s Origins,” in L. R. Wray (ed.), Credit and State Theories of Money: the Contributions of A. Mitchell Innes, Edward Elgar, Cheltenham. 99–127.

Hudson, M. 2004. “The Development of Money-of-Account in Sumer’s Temples,” in M. Hudson and C. Wunsch (eds.), Creating Economic Order: Record-Keeping, Standardization, and the Development of Accounting in the Ancient Near East, CDL Press, Bethesda, MD. 303–329.
The sound is not the best!


  1. Even the mathematics profession it seems has finally stopped keeping its criticisms of the economics profession (as a whole, both mainstream and heterodox) silent, it seems. Economists like to claim that they are highly applied mathematicians, when the truth is, they are not.

    Though I'm not an advocate of Modern Monetary Theory, Lord Keynes, were you aware that L. Randall Wray is coming out with a new book later this year? This is according to this post on Jonathan Finegold Catalan's blog.

    Out of curiosity Lord Keynes, have you ever commented on Steve Keen's blog before? (I don't have an account, and I can't be bothered to sign up.)

    Also, would you get a Twitter account for this blog?

    Finally, when will you do an updated bibliography on the works of Dr. Michael Emmett Brady on the writings of John Maynard Keynes?

    1. I do sometimes comment on Steve Keen's blog, but I really can't be bothered with twitter.

      I'll have to add an updated bibliography for Michael Emmett Brady to my many "to do" posts!

  2. Is a post on Keynes's Treatise on Probability and Brady's writings on the aforementioned book one of the posts on your "to do" list?