Monetary Theory, Volume 1: The Pure Theory of Money

Author: Keynes
Publisher:
Publish Date: 1997-04-01
Features: In the third and fourth parts of this book, a new research method for fundamental issues in monetary theory is proposed. The purpose of this is to find a method that can not only describe the nature of static equilibrium but also the nature of disequilibrium, while also discovering the driving forces of the monetary system transitioning from one equilibrium state to another. This is the main focus of the first volume of the book on "The Pure Theory of Money." In the second volume on "The Applied Theory of Money," I strive to combine qualitative and quantitative methods, making the best possible estimates of the magnitudes of the quantities discussed, primarily based on the existing facts in the United Kingdom and the United States. In this volume, I also describe the main characteristics of the modern monetary and banking system and discuss the methods and objectives of monetary management in practical fields.