An evolutionary approach, which focuses upon the behavior of banks and their institutional links with the Bank of England, is used to understand the process of Sterling M3 determination over 1963-88. It is argued, on several grounds, that this supply-side approach is more fruitful than one that...

The economics of Alfred Marshall is reassessed in the light of new developments in the natural sciences whereby a nonequilibrium thermodynamic approach is adopted to analyze self-organization in dissipative structures. It is argued that there is a clear correspondence between Marshall's...