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Monetary Theory and Policy from Hume and Smith to Wicksell - Money, Credit, and the Economy (Paperback)
Loot Price: R1,158
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Monetary Theory and Policy from Hume and Smith to Wicksell - Money, Credit, and the Economy (Paperback)
Series: Historical Perspectives on Modern Economics
Expected to ship within 12 - 17 working days
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This book provides a comprehensive survey of the major developments
in monetary theory and policy from David Hume and Adam Smith to
Walter Bagehot and Knut Wicksell. In particular, it seeks to
explain why it took so long for a theory of central banking to
penetrate mainstream thought. The book investigates how major
monetary theorists understood the roles of the invisible and
visible hands in money, credit and banking; what they thought about
rules and discretion and the role played by commodity-money in
their conceptualizations; whether or not they distinguished between
the two different roles carried out via the financial system -
making payments efficiently within the exchange process and
facilitating intermediation in the capital market; how they
perceived the influence of the monetary system on macroeconomic
aggregates such as the price level, output and accumulation of
wealth; and finally, what they thought about monetary policy.
General
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