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The monetary theory of production
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ISBN: 0521812119 0521104173 1107132800 0511120338 0511064586 0511330804 0511493541 1280161167 0511203705 0511073046 9780521812115 9780511064586 9780511120336 9780511493546 9780511073045 9780521104173 Year: 2003 Volume: 92 Publisher: Cambridge: Cambridge university press,

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Abstract

In mainstream economic theory money functions as an instrument for the circulation of commodities or for keeping a stock of liquid wealth. In neither case is it considered fundamental to the production of goods or the distribution of income. 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 flows. He argues that market asset configuration depends not upon consumer preferences and available technologies but on how money and credit are managed. A strong exponent of the circulation theory of monetary production, Graziani presents an original and perhaps controversial argument that will stimulate debate on the topic.

Keynes, Chicago, and Friedman
Authors: ---
ISBN: 1851967672 1851967672 9781851967674 Year: 2003 Publisher: London: Pickering and Chatto,

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