Copyright (1994) This paper places a new interpretation on the traditional evolutionary account of money and banking institutions. This allows the development of a new conceptual framework for a monetary model called the Loans Standard. The Loans Standard has an institutional structure that minimizes the transaction costs of using exchange credit (i.e. money). Developments within the existing s...

For reuse to mature into an institutional context, we must move beyond anecdotal support to cost and estimation models supported by legitimate measures. This implies that the existing measures and models will need to be adapted to properly distinguish and credit reuse when it occurs and when it can occur. Furthermore, the focus of those measures and models may change. Workshop Goals: Assess the...

This paper addresses a theoretical puzzle regarding how institutions enhance individual entrepreneurial behavior. We leverage a unique research setting to extend institutional theory into the realm of entrepreneurship by introducing and testing the concept of institutional flexibility. More flexible institutions foster entrepreneurship in allowing, rather than restricting individual choices. Th...

This article is based on the premise that poverty has its own culture. Social system and subsystems of this culture are built on exploitation. The rich are exploiting the poor by putting them into a debt-trap of money-lending system. This system exists everywhere in the world wherever poverty exists. The poor people need money for their survival and as a result of it they become the part of the...

The traditional view that excise taxes are regressive has been challenged. I document the history of the term regressive tax, show that traditional definitions have always found cigarette taxes to be regressive, and illustrate the implications of the greater price responsiveness observed among the poor. I explain the different definitions of tax burden: accounting, welfare-based willingness to ...

Exploring an alternative way to approach famine relief interventions, this paper draws on the work of French philosopher Michel Foucault and David Keen's recent work on south-west Sudan. It suggests that different discourses on 'famine' can lead to the dominance of certain kinds of institutional practices, and the prioritisation of special kinds of knowledge, at the expense of other modes of un...

For as long as one can remember, monetary policy has been tossing about on a sea of controversy. The issues change from year to year, of course. Yet, curiously enough, it is difficult to detect anything like a convergence toward a consensus on such basic questions as: (1) What is monetary policy? (2) How does it work? (3) How well does it work? (4) How could its effedtiveness be enhanced, its p...

This paper is aimed at strengthening policy reforms in the area of agriculture credit delivery system for the sustainability of agriculture for food security and rural development. In India strengthening of agriculture is important for elimination of rural poverty, food insecurity, unemployment and sustainability of natural resources. But till today strengthening of agriculture was meant to be ...