{"title":"Haizhou Huang","description":"\u003cp\u003eHaizhou Huang’s works offer insightful explorations into the realms of finance and economics, providing readers with a clear understanding of complex concepts such as money and capital. His writing is suited for those seeking thoughtful analysis within \u003cem\u003eEducation \u0026amp; Reference\u003c\/em\u003e, blending academic rigor with accessible explanations.\u003c\/p\u003e\n\n\u003cp\u003eReaders can expect a detailed yet approachable examination of financial systems, ideal for students, professionals, and anyone interested in the principles that underpin modern economics. Haizhou Huang’s books serve as valuable resources for deepening knowledge and fostering critical thinking about economic structures.\u003c\/p\u003e","products":[{"product_id":"money-capital-by-patrick-bolton-9780691232225","title":"Money Capital","description":"\u003cdiv class=\"book-description\"\u003e\n\u003cp\u003e\u003cem\u003eMoney Capital\u003c\/em\u003e presents a novel perspective on monetary and fiscal policy by viewing money as the equity capital of a nation.\u003c\/p\u003e\n\n\u003cp\u003eA 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 basic prediction. In this book, leading economists Patrick Bolton and Haizhou Huang offer a novel perspective by viewing monetary economics through the lens of corporate finance. They propose a richer theory, where money can be seen as the equity capital of a nation, playing a similar role as stocks for a company. This innovative framework integrates the real and monetary sides of the economy, with a banking sector and debt at its core.\u003c\/p\u003e\n\n\u003cp\u003eIn the financial world, companies issue new shares only if it results in some kind of value creation; this is a basic principle of corporate finance that Bolton and Huang argue can be applied to monetary economics. When the government increases the money supply to finance positive net value investments—when it prints money to keep the economy going—it increases output, not inflation. This is evidenced by the strong growth in GDP and money in China over the last four decades, and in the United States during World War II. The effect of increasing money supply, they argue, depends on how money enters the system and what the money buys.\u003c\/p\u003e\n\n\u003cp\u003eThe principles outlined by Bolton and Huang shed new light on a range of issues, including inflation, monetary and fiscal policy, central banking, money and growth, and the international monetary system.\u003c\/p\u003e\n\u003c\/div\u003e","brand":"Hachette Aotearoa New Zealand","offers":[{"title":"Default Title","offer_id":47597134938348,"sku":"9780691232225","price":69.99,"currency_code":"NZD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0705\/7784\/8556\/files\/9780691232225-money-capital.jpg?v=1777946718"}],"url":"https:\/\/bookhero.co.nz\/collections\/haizhou-huang.oembed","provider":"Book Hero","version":"1.0","type":"link"}