The Monetary Theory of Production
By (author) Augusto Graziani
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Monetary Theory of Production by Augusto Graziani
Book DescriptionIn 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 flows. 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 that will stimulate debate on the topic.
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Book DetailsISBN: 9780521812115
(216mm x 138mm x 14mm)
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 4-Sep-2003
Country of Publication: United Kingdom
Books By Author Augusto Graziani
Monetary Theory of Production, Paperback (March 2009)» View all books by Augusto Graziani
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 flows.
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Author Biography - Augusto Graziani
Augusto Graziani is Professor of Economics in the University of Rome La Sapienza. He is the author of Teoria Economica (4th edition, 2002).
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