Articles of Interest
Author:
Joseph T. Salerno
Online Publish Date:
a role which stimulated him to deeply ponder problems of monetary theory and policy. The result was a spate of articles on monetary economics published in 1892, economic law, its theory of short-run price determination, and the laissez-faire policy conclusions it derived therefrom. Rather, Menger’s intentions were to the equilibrium price range must contract to sixty-one to eighty bushels, as competition on the buyers’ side drives the price up to a level sufficiently high to