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

  • Henri Savall
Chapter

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.

Keywords

Functional theory of money Quantity theory of money Money supply Money value Instability Inflation 

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Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Henri Savall
    • 1
  1. 1.ISEORECULLY CEDEXFrance

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