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On Graziani?s monetary theory of production

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  • Ferruccio Marzano

Abstract

In the paper it is underlined that, building on previous German and French literature, in various outstanding contributions Graziani analyses the working of a credit capitalist economy, that is an economy in which banks? decisions on the amount of credit provided to firms are the starting point in the functioning of the economy. In particular, in Graziani?s vision, the power of banks and that of firms conflict each other, whereas the role of workers is a residual one.

Suggested Citation

  • Ferruccio Marzano, 2014. "On Graziani?s monetary theory of production," STUDI ECONOMICI, FrancoAngeli Editore, vol. 2014(112), pages 90-97.
    • Handle: RePEc:fan:steste:v:html10.3280/ste2014-112007
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    References listed on IDEAS

    as
    1. J. M. Keynes, 1937. "The General Theory of Employment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 51(2), pages 209-223.
    2. L. Randall Wray, 1993. "Money, Interest Rates, and Monetarist Policy: Some More Unpleasant Monetarist Arithmetic?," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 15(4), pages 541-569, July.
    3. Graziani,Augusto, 2003. "The Monetary Theory of Production," Cambridge Books, Cambridge University Press, number 9780521812115, October.
    4. James Tobin, 1992. "Money (for New Palgrave Money and Finance)," Cowles Foundation Discussion Papers 1013, Cowles Foundation for Research in Economics, Yale University.
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    More about this item

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers

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