Theory of Value and Money: A New Model of Economic Development and Governance

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The author finds, after an observation of the situation at the world level, that current economic societies are characterized by a profound inequality in the distribution of wealth and examines its origin and main causes. This is a troubling picture, as the analysis highlights the presence of a “totalitarian” regime on the entire planet, despite the constitutional organizations of the majority of states based on democratic models.

In fact, the domination of the wealthy classes, which do not represent more than 1% of the world population, is based on an absolute economic and political power, manifested by the supremacy of capital over the economy and politics, and demonstrates in the latter case a regular and consistent ability to influence the content of government actions with ad hoc effectiveness.

On the other hand, the undisputed power of capital over the fate of the productive and financial systems of the whole planetary zone determines an unequal distribution of the wealth produced, resulting in serious situations of economic indigence of the world population, a source of mortification of the  human dignity and of a moral and political oppression aimed at strengthening the exploitation system put in place for the benefit of the few.

The analysis carried out on the economic side of the life of the nations, uses theoretical models developed over time, since the dawn of the industrial revolution by the scientific literature and from which descend logical consequences which destroy most of the dominant opinions in academic circles, economic and financial activities and governments.

In particular, the author develops and proposes a completely new theory of money that reverses current doctrinal approaches on the usefulness of monetary policy and on the real origins of inflation defined as an “economic” and not “monetary” phenomenon.

In addition, a system is proposed to regulate the prices and processes of income allocation to businesses, without calling into question the concepts of private ownership of production assets and those of free economic initiative.

In addition, the author:

  • proposes a deep and incisive reform of the financial markets in order to eliminate the conditions that make possible serious and frequent crises, with re-distributive effects of the income of the poor classes towards the dominant classes,
  • without neglecting to analyze the situation of disorder and inefficiency that characterizes the current banking systems, which have distorted their original mission because of greed for growing profits.

A new model of functioning and governance of the economy, capable of founding a regime of real economic democracy, overcoming the current domination of capital and the severe conditions of poverty of the majority of the world’s population is also presented.

KEY WORDS: Economic democracy, Wealth distribution, Capital, Labor, Development, Value, Currency, Monetary policy, Economic policy, Factors of crisis Capitalist System, Antagonistic Forces.

Number of Pages: 303

This publication is currently only available in Italian.

About Author

David Yerushalmi is a long-time scholar of anthropology and models for the development of human societies. For this reason he has dedicated an important part of his research to economic science, in the awareness that the availability of resources useful for the survival of the race sets the conditions for the moral, civil and technological progress of Humanity. He currently studies and works in Israel.

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