The money economy: mercantilism, classical economics and Keynes' general theory.(Special Invited Issue: Money, Trust, Speculation and Social Justice)(Part 2: Trust and Money)

From: The American Journal of Economics and Sociology | Date: October 1, 1998| Author: Steele, G.R. | Copyright information

A trustworthy monetary system is necessary to support the division of labor and extended trading relationships. In the context of classical economics and of Keynes' macroeconomics, the origin of pervasive economywide problems have been traced to monetary disturbances. The relevance (to interest rate theory) of the market for credit and of bond price speculation is critical to judging the plausibility of those rival theories.

I

Introduction

The use of ...

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