Monetary Theory (Volume 1): The Pure Theory of Money

Author: (British) Keynes
Publisher:
Publishing Time:
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 the nature of disequilibrium, while also discovering the dynamic laws governing the transition of the monetary system 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," the author attempts to combine qualitative and quantitative methods, making the best possible estimates of the magnitudes of the quantities discussed, primarily based on the existing facts of 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 the practical field.