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

Graziani, Augusto

Hardcover

ISBN 10: 0521812119 ISBN 13: 9780521812115

Publisher: Cambridge University Press, 2003

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 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.

About the Author:

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

About this edition

• Publisher: Cambridge University Press
• Publication date: 2003
• ISBN 10: 0521812119
• ISBN 13: 9780521812115
• Binding: Hardcover
• Number of pages: 188