Monetary Theory, Volume 1: The Pure Theory of Money

Author: Keynes
Publisher:
Publish Date: 1996-04-01
Features: In the third and fourth parts of this book, a new research method for fundamental issues of 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 describe the nature of disequilibrium, while also discovering the driving laws of the monetary system transitioning from one equilibrium state to another. This is the main subject of the first volume of the book on "The Pure Theory of Money." In the second volume on "The Applied Theory of Money," the author attempts to combine qualitative and quantitative methods, making the best possible estimates of the magnitudes of the quantities discussed, primarily based on existing facts in the United Kingdom and the United States. In this volume, the author also describes the main characteristics of the modern monetary and banking system and discusses the methods and objectives of monetary management in practical fields.