The Value of Money

Résumé du livre

The Value of Money by Benjamin M. Anderson, Jr., first published in 1917, is a seminal work in the field of monetary economics. In this comprehensive and scholarly treatise, Anderson critically examines the prevailing theories of money and value, challenging the mechanical and quantitative approaches that dominated early 20th-century economic thought. The book delves into the nature and functions of money, exploring its relationship to prices, credit, and the broader economic system. Anderson argues for a dynamic and organic understanding of value, emphasizing the importance of human judgment, market processes, and the interplay of supply and demand. He critiques the Quantity Theory of Money, advocating instead for a more nuanced view that considers the complexities of economic behavior and institutional factors. Through rigorous analysis and historical examples, Anderson addresses issues such as the role of banks, the impact of monetary policy, and the causes of inflation and deflation. The Value of Money stands as a thoughtful and influential contribution to economic literature, offering insights that remain relevant to discussions of monetary theory, policy, and the functioning of modern economies.