Money and Inflation

  title={Money and Inflation},
  author={L. Randall Wray},
  • L. Randall Wray
  • Published 2000
  • Economics
  • This paper explores theoretical approaches to money and inflation and examines the link between the two. I start with a review of the modern orthodox approach, which presumes that the money supply is determined by government policy and focuses on controlling inflation. I then describe and contrast recent Post Keynesian work on money, which is based on a neo-Chartalist, or state money, approach. Finally, I link the neo-Chartalist approach more directly to PK theories of money, prices, and… CONTINUE READING
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