In this paper, recent contributions to the legal restrictions theory of money are critically examined from the perspective of received monetary economics. In particular, it is shown that, contrary to some interpretations, M. Friedman's work on the optimum quantity of money does not support the...

Classical economists developed a surprisingly sophisticated analysis of money supply variations that, anticipating the main features of contemporary theory, emphasizes the role of information in the transmission mechanism. Drawing on the classical contributions, this paper outlines a general...