Money and Banking provides an original and comprehensive
interpretation of the debate on banking and the nature of money in
Keynes's time from a post Keynesian point of view. The book traces
the pre-history of monetary circuit theory and its challenge to
mainstream analysis in the first four decades of the century,
contrasting the neoclassical approach with the monetary theory of
production. The author comprehensively examines and reconstructs
the contributions of both well-known and more neglected authors to
the debate on the nature of money and the function of the banks,
from the viewpoint of a circuit theorist. He concludes with a
comprehensive account of heterodox analyses of the creation of
money by banks, beginning with Wicksell and ending with British and
American proponents of 'free banking'.
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