Chapter

Money and Trade

Antoin E. Murphy

in John Law: Economic Theorist and Policy-maker

Published in print June 1997 | ISBN: 9780198286493
Published online November 2003 | e-ISBN: 9780191596674 | DOI: http://dx.doi.org/10.1093/019828649X.003.0008
 Money and Trade

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Provides an analysis of the contents of ‘Money and Trade’ including emphasis on the money‐in‐advance requirement, the circular flow of income, the further analysis of inflation in a money supply and money demand framework, and the formulation of the law of one price for a small open economy—Law's weak point on the balance of payments.

Keywords: balance of payments; circular flow of income; demand for money; inflation; law of one price; money supply; money‐in‐advance

Chapter.  14419 words.  Illustrated.

Subjects: History of Economic Thought

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