MONETARY THEORY AND POLICY FROM HUME AND SMITH TO WICKSELL by Arie Arnon ( 9781107642737 )

Item Details

Title:

MONETARY THEORY AND POLICY FROM HUME AND SMITH TO WICKSELL
MONEY, CREDIT, AND THE ECONOMY

By:

Arie Arnon

Format:

Paperback

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£38.99

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£35.09

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£3.90

ISBN 10:

1107642736

ISBN 13:

9781107642737

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Publisher:

CAMBRIDGE UNIVERSITY PRESS

Pub. date:

1 August, 2012

Series:

Historical Perspectives on Modern Economics

Pages:

450

Description:

This book provides a survey of the major developments in monetary theory and policy from Hume and Smith to Wicksell.

Synopsis:

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.

Illustrations:

2 b/w illus. 7 tables

Publication:

Imprint:

Cambridge University Press

Returns:

Returnable

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