![]() ![]() ![]() First a libertarian natural law ethics is used to assess the government interventions in the Corona pandemic. We apply both utilitarian and rights‐based ethics to the case of epidemics in general and COVID‐19 in particular. In this article we show that a capitalist ethics is capable to deal with the challenges of pandemics and comes with important advantages such as the prevention of overreactions. A decreased quality of money leads to a reduction in the demand for money, which means an increased demand for financial assets as substitutes for money as a store of value.Ĭommentators believe that the COVID‐19 pandemic reveals the inconveniences of capitalism and that the end of “neoliberalism” could be near. all those characteristics that make money a reliable medium of exchange, a store of value and a unit of account. Central banks control the quality of money, i.e. Moreover, monetary policy changes the properties of money, and therefore the subjective value of money. Monetary policy not only creates additional demand for financial assets, but also influences their return, risk, liquidity and other characteristics, which in turn affect demand and prices. Monetary policy influences the prices of financial assets by changing the relevant properties of financial assets and money. This means that prices of financial assets depend on both, the value of financial assets and the value of money. Market participants make decisions to hold or buy financial assets based on subjective valuations: marginal value of financial assets versus marginal value of money. The thesis applies the principles of subjective value to the analysis of the pricing of financial assets, which allows to create a more comprehensive understanding on how monetary policy influences prices of financial assets. The topic of this thesis is the connection between monetary policy and prices of financial assets.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |