Money in Economic Theory

Ekstedt (public administration, U. of Gothenburg, Sweden) aims to discuss and compare what money has been thought to be in connection with various theoretical systems, and what money is. He describes his methodology, then offers a chronologically arranged retrospective survey beginning with Aristotle and ending with Jean Baptiste Say (1767-1832), Knut Wicksell, and metallism and chartalism. Discussion moves to money, value, and prices in neoclassical economic theory and in the Keynesian and monetarist theories, uncertainty and liquidity, and expectations and stability. Annotation ©2013 Book News, Inc., Portland, OR (booknews.com)