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Monetary Factors of Crisis: Hoarding Versus Investment, Inflation, and Deflation

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Radical Origins to Economic Crises

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Abstract

This chapter introduces a general theory of money by focusing on two main theories: the functional theory of money that Bernácer proposes and the quantitative theory he strongly criticizes. In a way, Bernácer proposes a kind of General Theory of Employment, Interest and Hoarding, 14 years before Keynes’s famous “General Theory”. This chapter compares the different money theories available in contemporaneous literature in the Swedish, English, French, and Austrian schools of thought.

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Authors and Affiliations

  1. ISEOR, ECULLY CEDEX, France

    Henri Savall

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Savall, H. (2018). Monetary Factors of Crisis: Hoarding Versus Investment, Inflation, and Deflation. In: Radical Origins to Economic Crises. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-93366-5_4

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  • DOI: https://doi.org/10.1007/978-3-319-93366-5_4

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  • Publisher Name: Palgrave Macmillan, Cham

  • Print ISBN: 978-3-319-93365-8

  • Online ISBN: 978-3-319-93366-5

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