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The Quantity Theory Of...
The Quantity Theory Of Money: From Locke To Keynes And Friedman
The quantity theory of money has remained at the heart of much of the comtemporary economic debate, not least in the disputes between monetarist and Keynesian economists.
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These six fine essays on the quantity theory of money (i.e. increased money leads to proportionally increased prices) offer a wealth of ideas on the development of that theory and its continued relevance. Walter Eltis discusses how John Locke first stated the idea, originally to argue against usury controls and attempts to decrease the value of coins. Denis O'Brien describes the debate over the idea back in the 1830s, and the continued rightness of the ideas of "Currency" or quantity theory, sch ...more
Mark Blaug is a British economist (naturalised in 1982), who has covered a broad range of topics over his long career. In 1955 he received his PhD from Columbia University in New York. Besides shorter periods in public service and in international organisations he has held academic appointments in - among others - Yale University, the University of London, the London School of Economics and the Un ...moreMore about Mark Blaug...