Why Is There Money?: Walrasian General Equilibrium Foundations of Monetary Theory

This work by Starr (U. of California at San Diego) represents an attempt to provide the Arrow-Debreau model of Walrasian general equilibrium theory with a sound account of money, accounting for the fact that trade is monetary, the uniqueness of money as a single common medium of exchange, the use of money in transactions that are suitable for barter resolution, and the fact that money is government-issued fiat money that trades at a positive value though it conveys directly no utility or production. Annotation 穢2012 Book News, Inc., Portland, OR (booknews.com)