Monetarism and the Demise of Keynesian Economics

An examination of the role of money in a dynamic economy within the context of theoretical developments both within and in opposition to, the Quantity Theory tradition. Emphasis is on the dangers of basing economic policy on macroeconomic analysis. Front Matter....Pages i-xii Introduction....Pages 1-6 Money....Pages 7-16 The Quantity Theory of Money....Pages 17-30 Money, Relative Prices and the Rate of Interest....Pages 31-39 Keynes’s General Theory....Pages 41-52 Forced Saving versus the Multiplier....Pages 53-64 Monetarism....Pages 65-74 Control of the Money Supply....Pages 75-83 International Trade and Exchange Rate Policy....Pages 85-99 Macroeconomic Demand Management....Pages 101-110 Inflation....Pages 111-121 Free Markets, Monetarism and the Austrian School....Pages 123-130 Postscript: When Keynes was a Monetarist....Pages 131-138 Back Matter....Pages 139-155