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The Monetary Theory of Production

Hardback

Main Details

Title The Monetary Theory of Production
Authors and Contributors      By (author) Augusto Graziani
SeriesFederico Caffe Lectures
Physical Properties
Format:Hardback
Pages:188
Dimensions(mm): Height 224,Width 144
Category/GenreEconomic theory and philosophy
Development economics
ISBN/Barcode 9780521812115
ClassificationsDewey:332.401
Audience
Professional & Vocational

Publishing Details

Publisher Cambridge University Press
Imprint Cambridge University Press
Publication Date 4 September 2003
Publication Country United Kingdom

Description

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 flow. 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 which will stimulate debate on the topic.

Author Biography

Augusto Graziani is Professor of Economics in the University of Rome La Sapienza. He is the author of Teoria Economica (4th edition, 2002).