Monetary Theory
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1.11. The Par Value or Ratio between the Value of Land and Labor
Only money— a “most certain measure”—can be used for income measurements and comparisons.
2.4. Further Reflection on the Rapidity or Slowness of the Circulation of Money in Exchange
A variety of factors affect the flow of money in circulation and this in turn affects the amount of money in circulation.
3.6. Banks and their Credit
Fractional-reserve banking is a system where the banks lend some of their deposits and earn interest, but it comes with risks.
1.15. The Increase and Decrease of the Number of People in a State chiefly Depends on the Taste, the Fashions, and the Ways of Life of the Property Owners
Population is based on the tastes and choices of property owners.
2.9. Interest on Money and its Causes
Interest rates on loans are connected with an individual’s time preference.
A Critique of Monetarist and Austrian Doctrines on the Utility and Value of Money
From The Review of Austrian Economics Vol. 1, No. 4, 1987.
The Central Fallacy of Keynesian Economics
Keynes’s theory of Aggregate Expenditures from the General Theory is examined and criticized. Keynes suggested numerous reasons why his marginal propensity to consume (MPC) might vary across individuals, over different time periods, and might be fundamentally heterogeneous in other respects, but assumed a constant MPC for tractability.
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