Patrick Bolton

Money Capital presents a novel perspective on monetary and fiscal policy by viewing money as the equity capital of a nation. A conventional economic theory, monetarism, holds that inflation is a monetary phenomenon driven by changes in the supply of money. Yet, recent experiences, including the aftermath of the financial crisis of 2008 and the economic development of China, contradict...

Money Capital offers a novel perspective on monetary and fiscal policy, viewing money as the equity capital of a nation. A conventional economic theory, monetarism, holds that inflation is a monetary phenomenon driven by changes in the supply of money. Yet recent experiences, including the aftermath of the financial crisis of 2008 and the economic development of China, contradict this...