Books by Alvaro Cencini

Time and the Macroeconomic Analysis of Income will undoubtedly puzzle, stimulate, infuriate, or annoy many readers. Alvaro Cencini challenges so many of the commonly held notions which are perpetuated in elementary textbooks and taken for granted in learned journals that a first reaction is bound to be that the author must be naive or ignorant - this is far from the case; the questions that Cencini raises are original and searching. His answers are even more intriguing for economists and interested readers.

In Money, Income and Time, Alvaro Cencini examines how money has been alternatively defined as a commodity and as the general equivalent of all commodities to be, subsequently, identified with the concept of numéraire, and, finally, reduced to the actual notion of credit. To better clarify the terms of the problem, the writer analyses it through the main theories of money which have been developed since the works of the classical economist. The book does not take the form of a history of economic doctrines, however, since its aim is at the same time less ambitious and more precise, that is defining the true nature of money through a critical and synthetic appraisal of its various analyses.

This volume shows that macroeconomics is logically independent of microeconomics and that it is fundamental to economic analysis and lends further support to the claim for the macroeconomic foundations of macroeconomics.