| Sumario: | This article focuses on the book "A Treatise on Money," by John Maynard Keynes. Keynes's analysis opens with a classification of the various types of money. He shows that as types of money other than commodity money are introduced, such as notes and bank deposits, some criteria for their management must be accepted. The conventional guide has been convertibility into gold at a fixed rate, but this method of management, Keynes holds, places too great an emphasis on gold and leads to instability of price levels; management, he maintains, should be directed chiefly toward the maintenance of the stability of the purchasing power of money.
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