The Monetary Theory of Production

Augusto Graziani

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Augusto Graziani challenges traditional theories of monetary production, arguing that a modern economy based on credit cannot be understood without a focus on the administration of credit flow. Money functions as an instrument for the circulation of commodities or for keeping a stock of liquid wealth in mainstream economic theory. In neither case is it considered fundamental to the production of goods or the distribution of income. A strong exponent of the circulation theory of monetary production, Graziani presents an original and perhaps controversial argument which will stimulate debate.

Book Details

Publisher: Cambridge University Press
Publish Date: Mar 19th, 2009
Pages: 188
Language: English
Edition: undefined - undefined
Dimensions: 8.50in - 5.50in - 0.43in - 0.54lb
EAN: 9780521104173
Categories: • Money & Monetary Policy• Economics - General• General

About the Author

Graziani, Augusto: - Augusto Graziani is Professor of Economics in the University of Rome La Sapienza. He is the author of Teoria Economica (4th edition, 2002).