San Francisco School of Economics: Money and Banking

San Francisco School of Economics Money And Banking a twenty-lesson course by Antal E. Fekete

Part One: The Origin of Money

1. The Axiom of Declining Marginal Utility

2. Direct versus Indirect Exchange

3. The Dual Nature of Money

4. Arbitrage

5. The Disequilibrium Theory of Price Formation

6. A Critique of the Quantity Theory of Money

Part Two: The Origin of Interest

7. The Two Sources of Credit: Saving and Clearing

8. The Propensity to Save and the Rate of Interest

9. Exchanging Wealth and Income

10. The Productivity of Capital versus Time Preference

11. The Market Process Determining the Rate of Interest

12. The Structure of Capital Markets

Part Three: The Origin of Discounting

13. The Bill of Exchange

14. The Propensity to Consume and the Discount Rate

15. The Market Process Determining the Discount Rate

16. The Marginal Productivity of Social Circulating Capital

17. The Discount House and the Acceptance House

18. The Rise and Fall of Commercial Banking

Part Four: The Fall of and Rise of the Gold Standard

19. The Error of Ludwig von Mises

20. Adam Smith’s Real Bills Doctrine

Volume II: Further Readings The Rise and Fall of Commercial Banking Illicit Interest Arbitrage: Borrowing Short to Lend Long The Bond Market The Bill Market Self-Liquidating Credit The Origin of the Bank Note The Bill of the Goldsmith The Principle of Capitalizing Incomes