Studies In The History Of Monetary Theory: Controversies And Clarifications 1st Edition – Ebook Instant Download/Delivery ISBN(s): 9783030834258,9783030834265,3030834255,3030834263

Product details:

• ISBN-10: 3030834263
• ISBN-13: 9783030834265
• Author: David Glasner

This book presents an alternative approach to monetary theory that differs from the General Theory of Keynes, the Monetarism of Friedman, and the New Classicism of Lucas. Particular attention is given to the work of Hawtrey and his analysis of financial crises and his explanation of the Great Depression. The unduly neglected monetary theory of Hawtrey is examined in the context of his contemporaries Keynes and Hayek and the subsequent contributions of Friedman and of the Monetary Approach to the Balance of Payments. Studies in the History of Monetary Theory aims to highlight the misunderstandings of the quantity theory and the price-specie-flow mechanism and to explain their unfortunate consequences for the subsequent development of monetary theory. The book is relevant to researchers, students, and policymakers interested in the history of economic thought, monetary theory, and monetary policy.

Table contents:

1. Introduction

Part I. Classical Monetary Theory

2. A Reinterpretation of Classical Monetary Theory

3. On Some Classical Monetary Controversies

4. The Real-Bills Doctrine in the Light of the Law of Reflux

5. Classical Monetary Theory and the Quantity Theory

6. Monetary Disequilibrium and the Demand for Money in Ricardo and Thornton

7. The Humean and Smithian Traditions in Monetary Theory

8. Rules Versus Discretion in Monetary Policy Historically Contemplated

9. Say’s Law and the Classical Theory of Depressions

Part II. Hawtrey, Keynes, and Hayek

10. Hawtrey’s Good and Bad Trade: A Centenary Retrospective

11. Hawtrey and Keynes

12. Where Keynes Went Wrong

13. Debt, Deflation, the Great Depression and the Gold Standard (with Ronald W. Batchelder)

14. Pre-Keynesian Monetary Theories of the Great Depression: Whatever Happened to Hawtrey and Cassel? (with Ronald W. Batchelder)

15. The Sraffa-Hayek Debate on the Natural Rate of Interest (with Paul Zimmerman)

16. Hayek, Deflation, Gold and Nihilism

17. Hayek, Hicks, Radner, and Four Equilibrium Concepts: Intertemporal, Sequential, Temporary, and Rational-Expectations

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