A Market Theory of Money

by John Hicks

Overview

In this book Nobel Laureate Sir John Hicks draws together the common threads of over fifty years of writing on monetary economics into a succinct statement of the fundamentals of monetary theory. Confronting the failure of both standard classical and neoclassical theory to fill the gap between monetary and non-monetary economics, he posits an idea of competitive markets that can be linked to the monetary sector, and explains the way in which economic theory has been adjusted to reflect developments in the real economy.

Product Details

ISBN-13:	9780198287247
Publisher:	Oxford University Press
Publication date:	10/12/1989
Pages:	152
Product dimensions:	5.69(w) x 8.81(h) x 0.72(d)

About the Author

John Hicks, Late Drummond Professor of Political Economy, University of Oxford

Sir John Hicks, late Drummond Professor of Political Economy, University of Oxford

Table of Contents

IntroductionPart I. The Working of Markets1. Suppy and Demand? 2. The Function of Speculation3. The Pricing of Manufactures4. The Labour MarketPart II. Money and Finance5. The Nature of Money6. The Market Makes its Money7. Banks and Bank Money8. Choice among Assets9. Theories of Interest: Keynes versus Marshall10. Markets in Equities: Ownership and ControlPart III. Problems and Policies11. The Old Trade Cycle12. The Credit Economy: Wicksell13. Interest and Investment14. An Intetrnational Economy15. What is Bad about Inflation? Appendix: Risk and Uncertainty

Editorial Reviews

"A Market Theory of Money is more than just a rennovation of past ideas. It offers a new interpretation of the business cycle, and an explanation of the differences between British and American economic systems."—Southern Economic Journal

"Clearly destined to take on a special significance to historians of thought as the final contribution of one of the most influential economists of the twentieth century....Achieves everything that Hicks' admirers could have hoped, and represents a remarkable accomplishment....Remarkably, even in the course of a short theoretical work, Hicks is able to draw a number of important policy conclusions."—Eastern Economic Journal

"Strongly recommended for upper-division and graduate collections."—Choice

From the Publisher