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The Value of Money

by Benjamin M. Anderson

★3.8/5
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About This Book

Benjamin Anderson, American Austrian, was among a handful of economists, led by Ludwig von Mises in his pioneering work The Theory of Money and Credit in 1912, who set out to integrate monetary theory into a general theory of value.Anderson devoted a major portion of his great book The Value of Money, published in 1917, to a refutation of the "mechanical" quantity theory of money.He argued that the causes and effects from which the data of the quantity equation are constructed are disaggregated and complex; whatever the correlation between the aggregate variables of the quantity equation, corr...

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