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The Credit Mechanism and its Implications

In: Arrow and the Foundations of the Theory of Economic Policy

Author

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  • Maurice Allais

Abstract

The more that is issued of a mixed currency, the more will be wanted. The supply does not satisfy the demand: it excites it. Like an unnatural stimulus taken into the human system, it creates an increasing desire for more; and the more it is gratified, the more insatiable are its cravings.

Suggested Citation

  • Maurice Allais, 1987. "The Credit Mechanism and its Implications," Palgrave Macmillan Books, in: George R. Feiwel (ed.), Arrow and the Foundations of the Theory of Economic Policy, chapter 18, pages 491-561, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-07357-3_19
    DOI: 10.1007/978-1-349-07357-3_19
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    Cited by:

    1. Mirakhor, Abbas, 2009. "Islamic Economics and Finance: An Institutional Perspective," MPRA Paper 56017, University Library of Munich, Germany.
    2. Samuel Demeulemeester, 2018. "The 100% money proposal and its implications for banking: the Currie–Fisher approach versus the Chicago Plan approach," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 25(2), pages 357-387, March.
    3. Michele Fratianni, 2017. "It is time to separate money banks from credit banks in Italy," Mo.Fi.R. Working Papers 138, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    4. Laurent Le Maux, 2015. "Banks as Accelerators of the Circulation of Money," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 41(4), pages 537-546, September.
    5. Krainer, Robert E., 2017. "Economic stability under alternative banking systems: Theory and policy," Journal of Financial Stability, Elsevier, vol. 31(C), pages 107-118.
    6. Al-Jarhi, Mabid Ali, 2004. "Remedy For Banking Crises: What Chicago And Islam Have In Common: A Comment," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 11, pages 24-42.
    7. Ronnie Phillips, 1992. "Credit Markets and Narrow Banking," Economics Working Paper Archive wp_77, Levy Economics Institute.

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