Titlebook: Cambridge Monetary Thought; The Development of S Pascal Bridel Book 1987 Palgrave Macmillan, a division of Macmillan Publishers Limited 198

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Jocelyne Bachevalier,Mortimer Mishkinheory by means of the cash-balance equation. For Marshall the value of money is determined by the use of ordinary supply-and-demand curves in perfect accord with the same laws on which his general theory of value is based. In his own words ‘the value of [money] is determined by the relation in which

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https://doi.org/10.1007/978-3-030-45493-7he theory of interest Keynes took over from Marshall. In his well-known parable of the . Keynes describes the consequences of a thrift campaign in what was formerly an Eden of stability and full employment. Consumers reduce their expenditures. This has the effect of occasioning losses to the manufac

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https://doi.org/10.1007/978-1-349-18662-4capital; development; evaluation; interest; investment; John Maynard Keynes; Keynes; monetary theory

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