Classical Theories of Money, Output and Inflation: A Study in Historical Economics (Studies in Political Economy)

This book challenges the conventional view that monetarism is a necessary part of classical economics and shows, in an historical account of monetary controversy, that the framework upon which classical analysis is based suggests an alternative account of the inflationary process. A corollary of the argument is that the monetarist approach is a logically necessary component of neoclassical analysis and that any attempt to criticise that approach in a fundamental way must involve an explicit rejection of the conceptual structure of neoclassical economics. Front Matter....Pages i-xii Front Matter....Pages 1-1 Aim of the Inquiry....Pages 3-7 The Classical Framework....Pages 8-22 Front Matter....Pages 23-23 Mercantilism and the Quantity Theory of Money....Pages 25-50 Classical Theory of the Metallic System....Pages 51-101 Front Matter....Pages 103-103 Introduction of Paper Currency....Pages 105-127 Theory of the Fiduciary System....Pages 128-160 Theory of the Credit System....Pages 161-203 Front Matter....Pages 205-205 Theory and Policy....Pages 207-212 Back Matter....Pages 213-271 Challenges the conventional view that monetarism, or the quantity theory of money, is a necessary part of classical economics and aims to show that the framework upon which classical analysis is based suggests an alternative account of the inflationary process Roy Green. Includes Bibliographical References (p. 255-262) And Indexes.