Money, Credit, and Commerce

Overview

Alfred Marshall (1842-1924), distinguished British economist and one of the founders of the neoclassical school of economics, established his reputation with the magisterial Principles of Economics (1890). That magnum opus quickly became a standard reference work, went through eight editions in MarshallÆs lifetime, and to this day is considered one of the classic economic treatises. Among his areas of expertise was monetary analysis, but he did not have the opportunity to publish a systematic presentation of his ...
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Overview

Alfred Marshall (1842-1924), distinguished British economist and one of the founders of the neoclassical school of economics, established his reputation with the magisterial Principles of Economics (1890). That magnum opus quickly became a standard reference work, went through eight editions in MarshallÆs lifetime, and to this day is considered one of the classic economic treatises. Among his areas of expertise was monetary analysis, but he did not have the opportunity to publish a systematic presentation of his views until his later years. Money, Credit, and Commerce, devoted to this subject, was his last major work.
Among the proposals made in this work for which he is most remembered is the adoption of ôsymmetalism,ö a plan for the combined use of gold and silver as the monetary base. Marshall also expressed his views on the relation of business fluctuations and the credit market to general unemployment. He saw reckless inflation of credit as the main cause of economic troubles.
As the foremost British economist of his time, he influenced a later generation of economists. One of his most gifted students was John Maynard Keynes, who disagreed with some of MarshallÆs ideas, yet continued to refer to MarshallÆs contributions as essential groundwork. For students of economics and monetary policy Money, Credit, and Commerce remains a valuable book.
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Product Details

  • ISBN-13: 9781591020363
  • Publisher: Prometheus Books
  • Publication date: 1/28/2003
  • Series: Great Minds Series
  • Edition description: Reprint
  • Pages: 475
  • Sales rank: 1,090,356
  • Product dimensions: 5.37 (w) x 8.38 (h) x 1.17 (d)

Table of Contents

Introduction 25
Bk. I Money
Ch. I Functions of money 41
Ch. II The measurement of general purchasing power 53
Ch. III Measurement of variations in the purchasing power of money 62
Ch. IV The total value of the currency needed by a country 75
Ch. V Metallic currencies 92
Ch. VI Metallic currencies, continued 103
Bk. II Business Credit
Ch. I The development of modern markets for capital 117
Ch. II The ownership of capital in joint stock 128
Ch. III The development of British banks 133
Ch. IV Stock exchanges 143
Bk. III International Trade
Ch. I Influences of transport facilities on trade 157
Ch. II Characteristics of international trade 169
Ch. III Britain's external trade 183
Ch. IV The balance of imports and exports 198
Ch. V International exchanges 211
Ch. VI General relations of demand and supply in international trade 229
Ch. VII Elasticity of a country's demand for imports 244
Ch. VIII Influences of elasticity of demand on the terms of international trade and on the incidence of import duties 256
Ch. IX Incidence of taxes on imports and exports 273
Ch. X Incidence of taxes on imports and exports, continued 285
Ch. XI Import duties designed to foster particular domestic industries 296
Ch. XII National currencies in relation to international trade under stable conditions 315
Bk. IV Fluctuations of Industry, Trade and Credit
Ch. I A general view of causes that affected continuity of employment in early times 329
Ch. II Influences on stability of employment exerted by developments of technique 335
Ch. III Relations of the money-market of fluctuations of industry and trade 345
Ch. IV Relations of the money-market to fluctuations of industry and trade, continued 356
App. A Notes on the evolution of money 369
App. B Some difficulties connected with statistics of prices 380
App. C Diagrammatic note on a metallic currency 391
App. D Interest on capital and profits on uses of capital 395
App. E Notes on the development of banking, with special reference to England's experiences 407
App. F International trade statistics 424
App. G Trade among countries whose currencies rest on dissimilar bases 433
App. H Relations of international values to comparative costs 440
App. I Graphical presentation of some problems of international trade 451
Index 493
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