A Monetary Theory of Employment
M.E. Sharpe, 1994 - Business & Economics - 251 pages
Presents the author's alternative monetary theory and macroeconomics to both the quality theory and Keynes's work. This text reveals Means's view of the economic processes in the real world, and the state of monetary and macroeconomics theory in the mid-1940s.
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action adjustment administered prices aggregate demand analysis assets assumption build up money capital invested cash consumption and investment Country decline demand and costs demand for money effect expected expenditure factors fiscal form of money Franklin D full employment Heterodox Economics hold money increase independent price-maker individuals and enterprises industry initial insensitive prices interest rates inventory invested in wages Keynes Keynes's labor level of income level of real liquidity loans Means's ment monetary theory money balances money holdings money outstanding money supply offset optimum employment outstanding stock percent price change price—wage level prices and wage production profits propensity to consume real income real stock reduce result saving and investment saving-investment theory Say's law security prices sensitive sensitive-price economy shift spend spooS stock of money store of buying store of value SUIABS tend tendency to oversave theory of employment tion total demand wage rates