...Steven Horwitz Complementary Non-Quantity Theory Approaches to Money: Hilferding’s Finance Capital and Free-Banking Theory Steven Horwitz It is not that unusual in the history of economic thought to find a the- orist whose work parallels the analysis of modern authors. However...

...Frank G. Steindl David Laidler. Princeton, N.J.: Princeton University Press, 1991. 220 pp. $35.00. Copyright © 1993 by Duke University Press 1993 Book Reviews 761 The Golden Age of the Quantity Theory. By David Laidler. Princeton, N.J...

... Copyright © 1976 by Duke University Press 1976 5. The theoretical framework of the Treatise: the dynamic analysis, the quantity theory, and Wicksell In the preceding chapter, I have summarized the main features of Book 111 of the Treatise, entitled “The Fundamental...

... University Press The roots of hedonism: an ancient analysis of quantity and time S. Todd Lowry, Washington and Lee University By excluding from the history of political economy everything con- cerned with the ancients, modern economists have voluntarily de- prived themselves...

... Press CCC 00 18-2702/86/$1.50 Max, the quantity theory, and the theory of value Don Lavoie I. Introduction By the ‘quantity theory’ is meant some form of the often empirically illus- trated proposition...

... Economic Review 45 . 5 : 900 -909. Friedman , M. Papers 1956 . The Quantity Theory of Money—A Restatement. In Studies in the Quantity Theory of Money , edited by M. Friedman. Chicago: University of Chicago Press. Friedman , M. Papers 1957 . A Theory of the Consumption Function...

... : 311 -26. ____. 1991 . Thomas Tooke: Pioneer of Monetary Theory . Ann Arbor: University of Michigan Press. Bagehot, W. [1873] 1962 . Lombard Street . Homewood, Ill.: Irwin. Blaug, M. 1995 . Why Is the Quantity Theory the Oldest Surviving Theory in Economics? In The Quantity Theory...

...Thomas M. Humphrey Copyright © 1973 by Duke University Press 1973 References Allais , Maurice . “Restatement of the Quantity Theory of Money.” American Economic Review 56 (Dec. 1966 ): 1123 -57. Anderson , Benjamin M. “Cheap Money, Gold and the Federal Reserve Bank...

.... Rev. ed. London and New York, 1935 . Hegeland , Hugo Quantity Theory of Money . Göteborg, 1951 . Hume , David On the Balance of Trade ( 1752 ). In David Hume, Writings on Economics . Edited by Eugene Rotwein. Madison, Wis., 1955. Keynes , John Maynard . The General Theory...

... Reserve Bank of Richmond Economic Review 71.6 : 3 -14. Kemmerer, E. W. 1907 . Money and Credit Instruments in Their Relation to General Prices . New York: Henry Holt. Laidler, David. 1991 . The Golden Age of the Quantity Theory: The Development of Neoclassical Monetary Economics . Princeton...

..., and of the relationships between them, both for the literature of the time, and for later debates about the origins of 1930s Chicago ideas about monetary economics. He is correct to locate these documents in a more general quantity theoretic tradition, but his discussion here is marred by a serious misunderstanding...

... CCC 00 18-2702/88/$1.50 Comment: Marx, the quantity theory, and the theory of value Murray Wolfson At first, Don Lavoie’s’ discussion of Marx’s “ghost of gold” theory of money in Austrian terms seems anachronistic, but on closer reading is consistent with a general view...

... whether autonomous expenditures or the quantity of money was the dominant influence on aggregate spending. It also provided the foundation for the better-known St. Louis equation that followed. Missing from this evolution, however, are important precedents by Karl Brunner and Anatol Balbach that also...

...George S. Tavlas During the early 1930s University of Chicago economists developed a comprehensive set of policy proposals that presaged those proposed by Fed economists and academics in the aftermath of the 2007–8 financial crisis. Using the quantity-theory framework to analyze the business cycle...

...Aashish Velkar Index numbers are indirect measurements as well as composite quantities that present particular inferential challenges to the measurer and their intended audiences. The early history of the use of index numbers in British economics (ca. 1860–1914) shows that making inferences using...

...Ludovic Desmedt; Jérôme Blanc Far more than the problem of the quantity of money, false money was the central issue in monetary debates that occurred in Europe in the sixteenth and seventeenth centuries. It first referred to sovereignty, in a time of state-building, as well as to a serious...

... paper was regularly used to make commercial payments. While thinkers of the stature of David Hume and Adam Smith utilized the quantity theory of money or the real bills doctrine to explain the monetary system, Henry Thornton broke new ground by developing a theory that recognized the essential truth...

... a more general application for the theory; that he continued to invoke (changes in) quantities of labor as principal determinants of (changes in) exchangeable value in all states of society; and that he had, in his own terms, some theoretical justification for his position. Moreover, it is argued...

... allowed both intra and interpersonal comparisons, thus justifying the use of mathematical techniques to answer welfare issues. Edgeworth found inspiration in a similar quest, the invention of temperature, which had permitted the transformation of a feeling, “coldness,” into a physical quantity...

... with pre-Keynesian orthodoxy” (197 1, 10). In this article we select the Cambridge quantity theory as the appropriate pre- Keynesian orthodoxy. Our analysis demonstrates that the Cambridge quan- tity theory, like Keynesian monetary theory, uses a stock approach. We argue, therefore...