{"product_id":"monetary-theory-and-policy-from-hume-and-smith-to-wicksell-money-credit-and-the-economy-paperback-9781107642737","title":"Monetary Theory and Policy from Hume and Smith to Wicksell; Money, Credit, and the Economy (Paperback \/ softback) 9781107642737","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eMonetary Theory and Policy from Hume and Smith to Wicksell\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eMoney, Credit, and the Economy\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cem\u003eThis book provides a survey of the major developments in monetary theory and policy from Hume and Smith to Wicksell.\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eArie Arnon (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9781107642737, Cambridge University Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePaperback \/ softback, published 27 August 2012\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e450 pages\u003cbr\u003e22.9 x 15 x 2.8 cm, 0.68 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e'Arie Arnon's history of monetary theory and policy from Hume to Wicksell provides an excellent roadmap to understanding the nature and evolution of the British tradition. The book is well researched and clearly written. Every chapter is good; some, such as Chapter 11 on the Currency School, are simply outstanding. This is a book that monetary historians will want to acquire.' Neil T. Skaggs, Illinois State University\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eThis book provides a comprehensive survey of the major developments in monetary theory and policy from David Hume and Adam Smith to Walter Bagehot and Knut Wicksell. In particular, it seeks to explain why it took so long for a theory of central banking to penetrate mainstream thought. The book investigates how major monetary theorists understood the roles of the invisible and visible hands in money, credit and banking; what they thought about rules and discretion and the role played by commodity-money in their conceptualizations; whether or not they distinguished between the two different roles carried out via the financial system - making payments efficiently within the exchange process and facilitating intermediation in the capital market; how they perceived the influence of the monetary system on macroeconomic aggregates such as the price level, output and accumulation of wealth; and finally, what they thought about monetary policy.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eIntroduction\u003cbr\u003e Part I. Analytical and Historical Foundations: 1. Monetary theory circa 1750: David Hume\u003cbr\u003e 2. Mid-eighteenth-century British financial system\u003cbr\u003e 3. Adam Smith: the case for laissez faire in money and banking\u003cbr\u003e 4. 'Monetary theories of credit' in exchange\u003cbr\u003e Part II. Debating Monetary Theory under Inconvertibility: 5. New reality: the restriction period, 1797–1821\u003cbr\u003e 6. Boyd versus Baring: the early round in the bullion debate\u003cbr\u003e 7. Henry Thornton: ahead of his times\u003cbr\u003e 8. Ricardo versus Bosanquet: the famous round in the Bullion debate\u003cbr\u003e 9. 'Credit theories of money' in exchange and intermediation\u003cbr\u003e Part III. Debating: Laissez Faire, Rules and Discretion: 10. From the resumption to 1837: more crises\u003cbr\u003e 11. The currency school trio: Loyd, Torrens, Norman\u003cbr\u003e 12. The banking school trio: Tooke, Fullarton, Wilson\u003cbr\u003e 13. Neither discretion nor rules: Joplin and the free banking school\u003cbr\u003e Part IV. The Road to Defensive Central Banking: 14. Bagehot and a new conventional wisdom\u003cbr\u003e 15. Does Karl Marx fit in?\u003cbr\u003e 16. Marshall and bi-metallism\u003cbr\u003e Part V. A New Beginning: Towards Active Central Banking: 17. Wicksell's innovative monetary theory\u003cbr\u003e 18. The puzzling slow rise of a theory of central banking: between the lender of last resort, passive and active monetary policy.\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Economic history [\u003ca title=\"See our other books on Economic history\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Economic%20history%20%5BKCZ%5D%22\"\u003eKCZ\u003c\/a\u003e], Macroeconomics [\u003ca title=\"See our other books on Macroeconomics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Macroeconomics%20%5BKCB%5D%22\"\u003eKCB\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":45999609741592,"sku":"9781107642737","price":36.99,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/products\/9781107642737i_f2fdfc68-a1bf-4b95-abcf-c2241257b484.jpg?v=1696781100","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/monetary-theory-and-policy-from-hume-and-smith-to-wicksell-money-credit-and-the-economy-paperback-9781107642737","provider":"Freshly Printed Books","version":"1.0","type":"link"}