Allgemeine Theorie der Wirtschaft

Hans-Joachim Stadermann deals with nominal economics, a monetary theory of economics. For nominal economics, the system of reciprocal contractual obligations, which are specified in money, are the mainstay of the general economic equilibrium. These nominal contracts create claims on the one hand, but they also create the same number of obligations on the basis of property and liability on the other hand. Seen from this standpoint, economics is an interinstitutional process which is conducted with secure money from the central bank and which takes place in space and time. In this system, money, credit and capital combine, through regulated markets, activities in private and public budgets with those in corporations and organizations which are not profit-oriented. The result is a productive understanding of those actions which can be observed in reality.