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The Monetary Theory of Production

The Monetary Theory of Production

Hardcover

Series: Federico Caffe Lectures

EconomicsInvesting & FinanceGeneral Sociology

ISBN10: 0521812119
ISBN13: 9780521812115
Publisher: Cambridge University Press
Published: Sep 4 2003
Pages: 188
Weight: 0.82
Height: 0.64 Width: 5.66 Depth: 8.78
Language: English
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.

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