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Books > Social sciences > Politics & government > Central government > Central government policies
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The State Theory of Money (Paperback)
Loot Price: R570
Discovery Miles 5 700
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The State Theory of Money (Paperback)
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Loot Price R570
Discovery Miles 5 700
Expected to ship within 10 - 15 working days
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Donate to Against Period Poverty
Total price: R590
Discovery Miles: 5 900
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2013 Reprint of 1924 Edition. Full facsimile of the original
edition, not reproduced with Optical Recognition Software. Georg
Friedrich Knapp (1842-1926) was a German economist who in 1895
published "The State Theory of Money," which founded the chartalist
school of monetary theory, which takes the statist stance that
money must have no intrinsic value and strictly be used as
governmentally-issued token, i.e., fiat money. Published originally
in 1905, it created a stir among academics and policy makers, with
proponents and critics both arguing forcefully about it. It was
written at a time when monetary matters were in a great flux.
Throughout the world, countries debated the optimal metallic
standard for their monetary systems. Should it be silver, gold,
both in a fixed relation (bimetallism), a combination of the two
(symmetalism), or should the selection of the standard be left to
the market? Knapp put the debate on new ground by suggesting that
there need not be a metallic standard at all. Ideas about the
desirability of paper money not backed by gold or other metals had
been presented before but were never able to command academic
respectability.
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