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The Monetary Theory of Production

Posted on 2010-06-08




Name:The Monetary Theory of Production
ASIN/ISBN:0521812119
Publish Date:2003-10-06
Pages:538 pages
File size:1.2 Mb
Publish Date: 2003-10-06
ISBN: 0521812119
Pages: 538 pages
File Type: PDF
File Size: 1.2 MB
Other Info: Cambridge University Press
   The Monetary Theory of Production

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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.

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