Monetary Theory of Production

$141.00

SKU: 9780521812115
Author: Graziani, Augusto
Publication Date: 09/04/2003
Publisher: Cambridge University Press
Binding: Hardcover
Media: Book
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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.