Lars P. Syll — The weird absence of money and finance in economic theory

Summary:
It is indeed strange since "money" as a unit of account is basic for quantitative measurement in economics and finance. Moreover, economic activity involving production, distribution and consumption of real good is dependent of finance in the creation of "money" in a monetary production economy. "Money" and finance are hidden assumptions in economics that constitute foundations of the framework for economic activity and therefore economics. They are for the most part unexamined, and where they are examined much of the investigation is either wrong or confused.  The conventional excuse of ignoring "money and finance is that "money" is neutral in the long run and measurement using the money scale is just a convenience that allows for expressing on one scale the range of real goods

Topics:
Mike Norman considers the following as important: economics and finance, money and banking

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