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Marshall’s Theory of Money and the Trade Cycle

In: Cambridge and the Monetary Theory of Production

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  • Robert J. Bigg

Abstract

This chapter reviews Marshall’s monetary theory under the two main headings of the quantity theory and the trade cycle. This is in preparation for the following chapter which considers the Marshallian research programme. The discussion is concerned only with the domestic economy, and no consideration is given to the international aspects of the theory; for example the determination of exchange rates, the effects of balance of payments disequilibria, and fluctuations in international activity and credit.

Suggested Citation

  • Robert J. Bigg, 1990. "Marshall’s Theory of Money and the Trade Cycle," Palgrave Macmillan Books, in: Cambridge and the Monetary Theory of Production, chapter 4, pages 17-33, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37121-7_4
    DOI: 10.1057/9780230371217_4
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