July 2023
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39 Reads
<<New & Complete Translation of Knapp’s ‘the State Theory of Money’>> A new and complete translation G. F. Knapp's "The State Theory of Money” is just published with detailed glossary for neologisms and footnotes. Knapp’s State Theory of Money has had a profound influence on shaping modern perspectives on money and banking. A Treatise on Money (Keynes) was influenced by this Knapp’s seminal work. Knapp’s current book marks the inception of various contemporary nominalist theories of money, including neo-chartalism, Post Keynesian monetary theory, and Modern MonetaryTheory (MMT). Knapp’s ideas have garnered significant attention as alternatives to the neoclassical economic doctrines, that view the emergence of money from a barter economy (catallactic theory of money). Despite its recognition, few English-speaking readers have accurately understood the book due to limitations in the 1924 translation. It is a partial translation omitting chapter 4 and presenting only abridged versions of the surviving chapters. Moreover, the translation fails to convey accurate meaning, resulting in the near absence of essential concepts like Knapp's emphasis on "recurrent connection" and the omission or distortion of intriguing institutional features such as "legal order" within a community (Gemeinschaft) and "power relations." German-speaking readers face the challenge of Fraktur, an old-style Gothic typeface, making the German edition illegible for modern readers. There is a pressing need for a comprehensive and accurate translation that includes a detailed index and extensive glossaries of Knapp's neologisms. Without these resources, readers may struggle to navigate the abundance of neologisms and hinder their understanding. This new edition offers several advantages over the 1924 translation 1. Comprehensive and unabridged translation. 2. Faithfulness to the original text, preserving its essence and nuances. 3. Greater consistency in translated terms. 4. Inclusion of an extensive Glossary of Knapp's neologisms and fundamental concepts. 5. Complete bibliography. 6. Comprehensive index, including original German terms. 7. Inclusion of page numbers from the 1924 English edition for cross-referencing.