Classical Theories of Money, Output and Inflation

1. Front Matter

   Pages i-xii

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2. Introduction

   1. Front Matter

      Pages 1-1

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   2. Aim of the Inquiry

      • Roy Green

      Pages 3-7

   3. The Classical Framework

      • Roy Green

      Pages 8-22

3. Metallic Currency

   1. Front Matter

      Pages 23-23

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   2. Mercantilism and the Quantity Theory of Money

      • Roy Green

      Pages 25-50

   3. Classical Theory of the Metallic System

      • Roy Green

      Pages 51-101

4. Currency and Credit

   1. Front Matter

      Pages 103-103

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   2. Introduction of Paper Currency

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      Pages 105-127

   3. Theory of the Fiduciary System

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      Pages 128-160

   4. Theory of the Credit System

      • Roy Green

      Pages 161-203

5. Conclusion

   1. Front Matter

      Pages 205-205

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   2. Theory and Policy

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      Pages 207-212

6. Back Matter

   Pages 213-271

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This book challenges the conventional view that monetarism is a necessary part of classical economics and shows, in an historical account of monetary controversy, that the framework upon which classical analysis is based suggests an alternative account of the inflationary process. A corollary of the argument is that the monetarist approach is a logically necessary component of neoclassical analysis and that any attempt to criticise that approach in a fundamental way must involve an explicit rejection of the conceptual structure of neoclassical economics.

• economics
• Inflation
• monetarism
• money

• University of Newcastle, Australia

  Roy Green

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