Currency Theory


(Crisis of currency-financial theories)

“Capitalism suffers currency-financial crises,
it does not generate them.”

Carlos A. Bondone

The Theory of Economic Time (TET) together with the additions presented here, the Currency Theorem and its equality and equivalence axioms, from where asymmetries and twin (currency and financial) crises derive, undoubtedly demand the restatement of all known currency and financial theories, and their incidence in current currency and financial institutions. We do not doubt that these new theoretical tools would have satisfied Hayek, in his search for a currency theory.

No matter if you are a Socialist or Liberal by conviction, you cannot make capitalism responsible for the recurring currency and financial crises, which become necessary under the current financial and currency regimes. Wrongly blaming capitalism for recurring currency and financial crises results from the erroneous theories on which current institutions are based.

Buenos Aires, February 2012.

Carlos A. Bondone

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