The Monetary Theory of Production

Free Download The Monetary Theory of Production By Augusto Graziani
2003 | 188 Pages | ISBN: 0521812119 | PDF | 1 MB
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 flow. Money functions as an instrument for the circulation of commodities or for keeping a stock of liquid wealth in mainstream economic theory. In neither case is it considered fundamental to the production of goods or the distribution of income. A strong exponent of the circulation theory of monetary production, Graziani presents an original and perhaps controversial argument which will stimulate debate.