Controversies in Monetary Economics

Standard economic theory, commonly declaring, "money is a veil," has tended to deny the importance of money and monetary factors in economic outcomes. Smithin (economics, Schulich School of Business, York U., Canada) argues that there is a significant amount of historical evidence suggesting that economic assumptions of money neutrality are invalid. He discusses a number of ways in which such assumptions distort economic models and proposes models that account for the effects of money in relation to interest rations, inflation, economic growth, and the international economy. Annotation ©2003 Book News, Inc., Portland, OR