Y1 - Economic Challenges

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1. The role of money in the economy
2. Life
3. Stocks versus flows
4. The quantity theory of money X
5. Fisher’s equation of exchange (=identity): MV = PY
6. Different causes of inflation:
7. Fisher’s quantity theory relies on three assumptions:
8. The Cantillon effect
9. But does V remain constant?
10. Money Illusion
11. Debt deflation.
12. Fisher’s place in history
13. Joseph Schumpeter (1883-1950)
14. Business Cycles (1939)
15. Capitalism, Socialism and Democracy (1942)
16. Economic challenge: robotization