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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 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 Details

ISBN: 9780521812115
ISBN-10: 0521812119
Format: Hardback
(216mm x 138mm x 14mm)
Pages: 188
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 4-Sep-2003
Country of Publication: United Kingdom

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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).

Books By Author Augusto Graziani

Monetary Theory of Production by Augusto Graziani

The Monetary Theory of Production

Paperback, March 2009
$44.96