Economics Dictionary of ArgumentsHome
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| Quantity theory: The quantity theory of money (QTM) is a macroeconomic theory that states that the general price level of goods and services is directly proportional to the amount of money in circulation, or money supply. See also Monetarism, Price, Markets._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Dictionary of Arguments. | |||
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Murray N. Rothbard on Quantity Theory - Dictionary of Arguments
Rothbard III 763 Quantity theory/Rothbard: RothbardVsQuantity theory: The absurdity of classifying monetary theories into mutually exclusive divisions (such as "supply and demand theory," "quantity theory," "cash balance theory," "commodity theory," "income and expenditure theory") should (…) be evident.(1) For all these elements are found in this analysis. Money is a commodity; its supply or quantity is important in determining its exchange-value; demand for money for the cash balance is also important for this purpose; and the analysis can be applied to income and expenditure situations. >Money/Rothbard, >Demand for money/Rothbard, >Purchasing power/Rothbard, >Currency in circulation/Rothbard, >Cash balance/Rothbard. 1. A typical such classification can be found in Lester V. Chandler, An Introduction to Monetary Theory (New York: Harper & Bros., 1940)._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. "Vs" indicates differences in content, not necessarily the chronological progression of a controversy. If a German edition is specified, the page numbers refer to this edition. |
Rothbard II Murray N. Rothbard Classical Economics. An Austrian Perspective on the History of Economic Thought. Cheltenham, UK: Edward Elgar Publishing. Cheltenham 1995 Rothbard III Murray N. Rothbard Man, Economy and State with Power and Market. Study Edition Auburn, Alabama 1962, 1970, 2009 Rothbard IV Murray N. Rothbard The Essential von Mises Auburn, Alabama 1988 Rothbard V Murray N. Rothbard Power and Market: Government and the Economy Kansas City 1977 |
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