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Money View Reading Group

Money View Reading Group

Start time:

May 4, 2027 @ 12:00 pm - 1:30 pm

Virtual Project Virtual Project
project Series Event Series (See All)

EST

Location:

Online

Type:

Reading group

project Series Event Series (See All)
Virtual Project Virtual Project

How to attend

Mark yourself as attending to receive the zoom link via email

Description

The Money View Reading Group reads and discusses writings (mostly books) on money, banking, and finance. We are a self-directed group. Anyone interested in money and banking can read the readings, join us for discussions, or suggest future readings.

We usually meet via Zoom every other Tuesday at 12 pm Eastern Time US (New York).

Current Reading

A Political Theory of Money by Anush Kapadia (2024)

https://www.amazon.com/Political-Theory-Money-Anush-Kapadia/dp/1009331469/

From the description:

Understanding money’s nature as political, institutional, and material answers today’s big money questions. Money remains a foundational question of social theory. What is money? Why does something so insubstantial have value? How do money systems make promises function like valuable things? Why are money systems always hierarchical yet variable? The answer, the book argues, is politics.

Upcoming Sessions

2024-03-05 — 12:00pm EST

We discuss chapters 5-7 of Anush Kapadia’s A Political Theory of Money.

Chapter 5: Between Currency and Credit: Mehrling’s Money View
Chapter 6: There Is No Such Thing as Fiat Money
Chapter 7: Coherence: Why Money Is Not Value

2024-03-12 — 12:00pm EDT

We discuss a 2017 paper by Bell, Brooks, and Moore: “The non-use of money in the Middle Ages.”

https://centaur.reading.ac.uk/30672/1/12%20Chapter%201839%20%281%29.pdf

From the introduction:

The three key functions of money, according to modern economic theory, are as a medium of exchange, a unit of account and a store of value. There is no intrinsic reason why these functions have to be performed by coins. As Peter Spufford has cautioned, ‘it is all too easy of the study of money in the Middle Ages to be focussed on the actual coins themselves. Coins were, of course, only a part of the money supply. In the earlier Middle Ages they were supplemented by a variety of other transferable objects … from the twelfth and thirteenth centuries, coins were already supplemented in some parts of Europe by holdings in the public debt and by deposits with merchant societies or money-changers. These were transferable, by entry in the books of the merchant societies and mon- ey-changers or those of the officials of the monte, by bills of exchange, and, from the fourteenth century, by cheque’.

2024-03-19 — 12:00pm EDT

We discuss the last five chapters of Anush Kapadia’s A Political Theory of Money.

Chapter 8: National Money versus Shadow Banking: Contradictions of a Public-Private Credit System
Chapter 9: A World without World Money
Chapter 10: Proof of Institutions: Cryptocurrences as Digital Fiat Money
Chapter 11: Europe and Democratic Funding
Chapter 12: Democratic Sovereignty Makes Money

2024-03-26 — 9:00am EDT

Anush Kapadia joins us to discuss A Political Theory of Money.

Future Suggested Readings

  • The Money Illusion by Scott Sumner (2021)
  • The Wheels of Commerce by Fernand Braudel (selected chapters) (1979/1982)
  • An Engine, Not a Camera: How Financial Models Shape Markets by Donald MacKenzie (2007)
  • Introduction to Central Banking by Ulrich Bindseil and Alessio Fota (2021)
  • The Arena of International Finance by Charles Coombs (1976)
  • Central Banking Before 1800: A Rehabilitation by Ulrich Bindseil (2019)
  • The Chairman: John J. McCloy & The Making of the American Establishment by Kai Bird (1992)

Past Readings with Discussion Recordings

“Off-Week” Sessions

2023-04-05 Discussion of Silicon Valley Bank
2023-04-19 Institutional Cash Pools by Zoltan Pozsar (2011)
2023-05-03 BIS Bulletin #73: Stablecoins vs. Tokenized Deposits (May 3, 2023)
2023-07-05 The Credit–Money Hierarchy: a Republican , Egalitarian Appraisal by Aaron James (2023)
2023-07-26 Public Purpose Finance: The Government’s Role as Lender by Nadav Orian Peer (2020)
2023-10-24 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 1
2023-10-31 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 2
2023-11-14 ICMA Repo FAQ by Richard Comotto (2013/2019)
2023-11-28 Basis Trades and Treasury Market Illiquidity by Daniel Barth & Jay Kahn (2020)
2024-01-23 Capital flows and the current account by Borio and Disyatat (2015)
2024-02-13 The dual currency system of Renaissance Europe by Luca Fantacci (2008)
2024-02-27 BIS: Buy now, pay later: a cross-country analysis by Cornelli et al. (2023)

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