Don Patinkin and the origins of postwar monetary orthodoxy

  title={Don Patinkin and the origins of postwar monetary orthodoxy},
  author={Perry Mehrling},
  journal={The European Journal of the History of Economic Thought},
  pages={161 - 185}
  • Perry Mehrling
  • Published 1 June 2002
  • Economics
  • The European Journal of the History of Economic Thought
Don Patinkin's Money, Interest, and Prices (1956) set the ground rules of postwar monetary discourse, for better or worse. A close look at the intellectual origins of the book in Patinkin's own life shows it to emerge equally from the Old Chicago School of Simons/Mints/Knight and the Cowles Commission of Lange/Marschak/Haavelmo. Patinkin's conception of money as essentially an outside asset is argued to emerge from the historical context of war finance, and is contrasted with the Gurley-Shaw… 
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