A Treatise on Money
Book description
2011 Reprint of 1930 American Edition. Two volumes Complete in One. Full facsimile of the original edition, not reproduced with Optical Recognition Software. Volumes One and Two of Keynes' classic work published in a handy one volume format. Exact facsimile of the original Edition. Keynes had begun a theoretical work…
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1 author picked A Treatise on Money as one of their favorite books. Why do they recommend it?
Most economists associate volume of money with price-level (inflation/deflation), not Keynes.
For him, a macro price-level does not reveal the unsynchronized dynamics affecting the prices of its components: commodities, labor, capital, raw materials, profits; it must be decomposed.
When FunCorp invests in a rollercoaster, its decision is based on present costs and future returns (ticket sales, performance, stock options, etc.).
Windfall profits will lead to more expansion; losses, to curtailed activity. Both expansion, contingent on easy credit, or recession, on the tightening of credit, depend on bankers’ use of individuals’ savings and their creation of more deposits.
For Keynes, an…
From Omar's list on theoretical reads about money, credit, and debt.
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