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Free Markets, Monetarism and the Austrian School

In: Monetarism and the Demise of Keynesian Economics

Author

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  • G. R. Steele

    (University of Lancaster)

Abstract

Industrialisation required change in the organisational structure of commerce. During the eighteenth and nineteenth centuries this had been continuously forced by the market process. There were adjustments to new specialisations and to growing economic interdependence. Rapid growth brought material advancement and proved capable of supporting an ever larger population, although hardship was experienced during intermittent periods of trade recession.

Suggested Citation

  • G. R. Steele, 1989. "Free Markets, Monetarism and the Austrian School," Palgrave Macmillan Books, in: Monetarism and the Demise of Keynesian Economics, chapter 12, pages 123-130, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-09994-8_12
    DOI: 10.1007/978-1-349-09994-8_12
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