ENGLISH

The Monetary Theory of Production

By Augusto Graziani

Book information

Publisher
Cambridge University Press
Year
2003
ISBN
0521812119, 9780521812115, 9780511064586
Open Library ID
OL22546401M
Language
english
Format
PDF
Filesize
868 kB (888878 bytes)
Series
Federico Caff? Lectures
Pages
188\188
Scanned
yes
Time added
2011-04-20 14:05:05

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 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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