About the Author of Learn Money Making Blog
Welcome to learn and earn money in my passive life online marketing.
HELLO, I’M GANESH
This is something I am very passionate about and am also working towards myself. I want to build the life of my dreams and support for a fantastic family.
Knowing how to do your own blog customization makes you less reliant on one for all the little things you want to change.
My mission is to show you that things like design are not scary things and that you can build the business of your dreams with a blog to match your aspirations.
The last 20th century has seen a remarkable evolution in the institutions that comprise the modern monetary system. The financial crisis of the year 1998-1999 and 2007-2009 is a wakeup call that we need an analytical apparatus and theories that we use to understand that system.
For New Economic Thinking is an attempt to begin the process of new economic by reviving and updating some forgotten traditions in monetary thought that have become newly relevant.
Three features of the new system are central. Most important,
- the intertwining of previously separate capital markets and money markets has produced a system with new dynamics as well as new vulnerabilities.
The financial crisis revealed those vulnerabilities for all to see. The result was two years of desperate innovation by central banking authorities.
- the global character of the crisis has revealed the global character of the system, which is something new in post-war history but not at all new from a longer time perspective. Central bank cooperation was key to stemming the collapse, and the details of that cooperation hint at the outlines of an emerging new international monetary order.
- Third, absolutely central to the crisis was the operation of key derivative contracts, most importantly credit default swaps and foreign exchange swaps. Modern money cannot be understood separately from modern finance, nor can modern monetary theory be constructed separately from modern financial theory.