Studies in the History of Monetary Theory: Controversies and Clarifications

Studies in the History of Monetary Theory offers an alternative approach to monetary theory that differs from Keynes, Friedman, and Lucas. It examines the unduly neglected monetary theory of Hawtrey, highlighting the misunderstandings of the quantity theory and the price-specie-flow mechanism. The book is relevant to researchers, students, and policymakers interested in the history of economic thought, monetary theory, and monetary policy.

Format: Paperback / softback
Length: 509 pages
Publication date: 03 November 2022
Publisher: Springer Nature Switzerland AG

This comprehensive book offers a fresh perspective on monetary theory, departing from the established frameworks of the General Theory of Keynes, Monetarism of Friedman, and the New Classicism of Lucas. It delves into the insightful analysis of Hawtrey, particularly his examination of financial crises and his explanation of the Great Depression. By placing Hawtrey's monetary theory in the context of his contemporaries, Keynes and Hayek, as well as the subsequent contributions of Friedman and the Monetary Approach to the Balance of Payments, the book sheds light on the unduly neglected aspects of monetary theory.

Studies in the History of Monetary Theory serves as a valuable resource for researchers, students, and policymakers alike, as it aims to clarify misconceptions about the quantity theory and the price-specie-flow mechanism. It explores the unfortunate consequences of these misunderstandings for the subsequent development of monetary theory. The book provides a rich tapestry of insights into the historical evolution of economic thought, monetary theory, and monetary policy, making it an essential read for those interested in these fields.

In conclusion, this book offers a groundbreaking exploration of monetary theory, challenging the conventional frameworks and highlighting the contributions of lesser-known scholars. By examining the work of Hawtrey and placing it in the broader context of economic thought, it provides a valuable contribution to the field of monetary theory and policy. Whether you are a researcher, student, or policymaker, this book will deepen your understanding of the historical and contemporary dynamics of money and finance.

Weight: 701g
Dimension: 210 x 148 (mm)
ISBN-13: 9783030834289
Edition number: 1st ed. 2021