The Monetary Theory of Production (Federico Caffè Lectures) - Softcover

Graziani, Augusto

Softcover

ISBN 10: 0521104173 ISBN 13: 9780521104173

Publisher: Cambridge University Press, 2009

Synopsis

The Monetary Theory of Production 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 flows. Full description

About this title

Book Description:

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 flows. A strong exponent of the circulation theory of monetary production, Graziani presents an original and perhaps controversial argument that will stimulate debate on the topic.

Synopsis:

In mainstream economic theory money functions as an instrument for the circulation of commodities or for keeping a stock of liquid wealth. In neither case is it considered fundamental to the production of goods or the distribution of income. 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 flows. He argues that market asset configuration depends not upon consumer preferences and available technologies but on how money and credit are managed. A strong exponent of the circulation theory of monetary production, Graziani presents an original and perhaps controversial argument that will stimulate debate on the topic.

About this edition

• Publisher: Cambridge University Press
• Publication date: 2009
• ISBN 10: 0521104173
• ISBN 13: 9780521104173
• Binding: Paperback
• Edition number: 1
• Number of pages: 188