Modern and Contemporary Monetary and Financial Theory Research -- Comparison of Mainstream Theoretical Schools

Author: Chen Daixun
Publisher:
Publish Date: 1997-11-19
Features: The book is titled "Theoretical Research on Modern and Contemporary Money and Finance," with its upper limit being the classical economic school and its lower limit being the socialist monetary theory of China. The book is divided into 10 chapters, categorized by period: the first 4 chapters belong to modern monetary theory, and the last 6 chapters are modern monetary theory. Divided by major schools, it can also be divided into two main parts: (1) the labor value theory school of money, represented by the classical school and the Marxist school, which assumes the premise of metal currency for its research; (2) the quantity theory of money school. For a long time, these two schools have held critical attitudes toward each other, appearing as irreconcilable. However, the practice of modern market economy has proven that while they have opposing aspects, they also have complementary aspects. For example, the labor value theory school of money has made many unique contributions in explaining the relationship between goods and money, as well as in the qualitative analysis of money. Meanwhile, the quantity theory of money school has gone a step further than the labor value theory school in quantitative analysis, the law of money circulation, and the regulatory role of money in the economy, exerting a greater impact on the market economy.