Introduction

Abstract

The first part of this chapter reminds the reader of an old issue. It is the “integration of monetary and value theory”. Keeping this issue in mind might help to see overlapping structures in proper perspective. The second part provides a definition of overlapping structures and introduces the reader to their two main representatives. The third part explains the purpose and organization of this monograph.

“...it must be conceded that when this integration is carried out as is done here, many, perhaps most, of the central substantive questions of monetary economics are left unanswered. These failings will appear below more nakedly than is customary in the monetary literature, so much so that they may well appear to be failings of the particular approach taken here as opposed to those of this literature in general. I do not believe this to be the case.”

Lucas (1982, p. 336)