Sergio Rossi

Alvaro Cencini

Jean-Luc Bailly

Quantum Macroeconomics presents a new paradigm in macroeconomic analysis initiated by Bernard Schmitt. It explains the historical origin, the analytical contents, and the actual relevance of this new paradigm, with respect to current major economic issues at national and international level. These issues concern both advanced and emerging market economies, referring to inflation, unemployment, financial instability, and economic crises. In the first part of this volume, leading scholars explain the historical origin and analytical content of quantum macroeconomics. The second part explores its relevance with respect to the current major economic issues such as the sovereign debt crisis and European monetary union. The volume also features two previously unpublished papers by Bernard Schmitt. The main findings of this book concern the need to go beyond agents’ behaviour to understand the structural origin of a variety of macroeconomic problems, notably, inflation, unemployment, financial instability, and economic crises. The originality that pervades all contributions is plain, when one considers the lack of any structural explanation of national and international economic disorders in the literature within the mainstream approach to economics. This edited volume is of great interest to those who study macroeconomics, monetary economics and money and banking.

The legacy of Bernard Schmitt

Quantum Macroeconomics

Bernard Schmitt

The objective of this book is to show that the debt servicing problem is related to the actual structure of monetary payments and that its understanding requires a new approach to monetary analysis. After a critical appraisal of the International Monetary System from Bretton Woods onwards the authors propose an original accounting solution to the problem of external debt servicing. Their proposals are likely to create controversy in this politically sensitive area of world economics.

Alvaro Cencini

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