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Books > History > History of specific subjects > Economic history
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Money and Exchange - Folktales and Reality (Paperback)
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Money and Exchange - Folktales and Reality (Paperback)
Series: Routledge Studies in the History of Economics
Expected to ship within 12 - 19 working days
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Whether a theoretical system is realistic or not has been a concern
in economics, particularly in monetary theory, over the past
century. Following John R. Hicks' proposal that a realistic
monetary theory could be constructed along an evolutionary path,
starting with the workings of a real market, this volume considers
whether we can look to the medieval economy as the point of
departure. Drawing upon the work of Aristotle, scholastic
economists, Adam Smith, Karl Marx, William Stanley Jevons, Leon
Walras and many modern monetary theorists, this intriguing book
provides a critical analysis of some basic theories of monetary
analysis. Concentrating primarily on certain fundamental building
blocks it covers: the theory and mathematical properties of barter
and monetary relations the distinction between barter and monetary
relations and money and non-money commodities the concept of
exchange as an equation, and the notion of the exchange relation as
a relation of equality. This groundbreaking study dispels some of
the old myths and conjectures concerning money and exchange and
opens up the way for the development of new approaches, both
realistic and evolutionary, of interest to researchers and students
of the history of monetary theory and economic thought.
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