Abstract
There were, of course, in the nineteenth century, and afterwards, objectors to the quantity theory. But these consisted mainly of members of the ‘ historical school’, who were allergic to any strict form of theory whatever. Within the great tradition of classical and neo-classical economics there was probably a greater consensus of opinion about the truth of the quantity theory of money than about any other economic tenet, except for those of the utmost generality.
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Notes
Cf. A. G. Hines, ‘ Trade Unions and Wage deflation in the United Kingdom, 1893–1963’, in the Review of Economic Studies, October 1964; ‘ Wage Inflation in U.K. 1943–1962: a Disaggregated Study’, in Economic Journal, March 1969.
R. Lekachman (ed.) Keynes’s General Theory: Reports of Three Decades (1964), pp. 250–61.
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© 1969 Roy Harrod
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Harrod, R. (1969). The Keynesian Revolution. In: Money. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-15348-0_7
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DOI: https://doi.org/10.1007/978-1-349-15348-0_7
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