THE THEORY OF MONEY AND INCOME CONSISTENT WITH ORTHODOX VALUE THEORY

@inproceedings{Thompson1974THETO,
  title={THE THEORY OF MONEY AND INCOME CONSISTENT WITH ORTHODOX VALUE THEORY},
  author={Earl A. Thompson},
  year={1974}
}
  • Earl A. Thompson
  • Published 1974
  • Economics
  • Publisher Summary This chapter discusses the theory of money and income consistent with orthodox value theory. It also presents a theory that has a perfectly competitive, private supply of all goods. There is a money economy that is consistent with orthodox value theory, and in any such economy, which is called perfectly competitive money economy, there is (1) a classical dichotomy between the real and monetary sectors, (2) an absence of real balance effects, (3) an absence of effects of… CONTINUE READING
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