Marsh introduces a new policy tool to enable the Federal Reserve to stop inflation without causing a recession. It would replace the Fed’s cost-of-borrowing tool with a new return-on-savings tool.
Notre Dame, IN – WEBWIRE – Friday, February 18, 2022
In return for Chinese products, instead of sending our products, we send pieces of paper with George Washington’s picture (U.S. dollars).
Title | Optimal Money Flow: A New Vision on How a Dynamic Growth Economy Can Work for Everyone
“Optimal Money Flow” by Lawrence C. Marsh (Avila University Press, 2020) will be featured at the LA Times Festival of Books on April 23-24, 2022 at the USC Campus, Los Angeles. The book reveals that so much money has been diverted to Wall Street that the people on Main Street can no longer afford to buy back the value of the goods and services they produce at full employment. So they go deep into debt. But even that is not enough to avoid a recession, so the government runs a deficit to make up the difference.
Marsh’s money flow paradigm views the flow of money to the top of the wealth pyramid as inherent, inevitable, and inexorable to the free enterprise system. This new paradigm requires that the government assume its rightful responsibility to direct sufficient money flow from the top to the bottom (like the heart pumping blood throughout the body) in order to maximize employment, economic growth, and efficient resource allocation.
“Optimal Money Flow” is an insightful read that gives a plethora of intriguing, creative ideas for readers who appreciate books at the intersection of economics and politics. Marsh proposes creating a personal digital currency Federal Reserve bank account with smartphone access for every American. This new policy tool would replace the Fed’s purchase of US Treasury assets in the New York financial markets, which only raises stock and bond prices while lowering interest rates. Overall, it is a new policy tool that uses less money and has a more direct and immediate impact on consumer demand than the purchase of US Treasury securities.
According to James Feussner, Amazon reviewer, the book “…reads like a good conversation. I saw the relevance of his concepts to our current situation in the United States, as we require another relief package from Congress to make it through the pandemic recession. From start to finish, Dr. Marsh captured my attention and fascinated me with exciting and creative ideas, helping me understand the serious problems we face today, and suggesting a novel solution which he carefully explained and documented.”
Interested? Find out more and grab a copy of “Optimal Money Flow” by Lawrence C. Marsh on Amazon and visit the upcoming LA Times Festival of Books.
“Optimal Money Flow”
Author | Lawrence C. Marsh
Genre | Politics & Political Science, Economics, Public Policy
Publisher | Avila University Press
Published date | June 16, 2020
Author Bio
Lawrence C. Marsh, author of “Optimal Money Flow,” is a professor emeritus in the Department of Economics at the University of Notre Dame where he taught economics for 30 years. He served as director of Notre Dame’s Ph.D. program in economics for 13 years. In retirement, he served in 2010 as visiting professor of econometrics and statistics in the MBA program at the University of Chicago’s Booth School of Business and in 2016-2017 at Avila University in statistics and research methods in psychology.
His public webpage is: http://sites.nd.edu/lawrence-c-marsh/home/.
Professor Marsh will forgo author royalties and donate the entire book price to student scholarships for books purchased through Avila University Press at https://www.avila.edu/optimal-money-flow/
More information can be found at https://optimal-money-flow.website Sign up for Dr. Marsh’s monthly Money Flow Newsletter at https://optimal-money-flow.website/
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