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. A strong exponent of the circulation theory of monetary...
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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. A strong exponent of the circulation theory of monetary production, Graziani presents an original and perhaps controversial argument which will stimulate debate
Includes bibliographical references (p. 159-169) and index. - Description based on print version record
Cover; Half-title; Series-title; Title; Copyright; Contents; Acknowledgements; 1 Introduction; 2 Neoclassical monetary theory; 3 A monetary economy; 4 The creation of bank money; 5 The distribution of income; 6 The role of financial markets; 7 Real and monetary interest; 8 Implications for monetary policy; 9 Concluding remarks; References; Index.