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This chapter responds to criticisms by (Blaug, M. (1995). Why is the quantity theory the oldest surviving theory in … economics? In M. Blaug (Ed.), The quantity theory of money: From Locke to Keynes and Friedman. Edward Elgar.) and (O’Brien, D …. Blaug (Ed.), The quantity theory of money: From Locke to Keynes and Friedman. Edward Elgar.) of the distinction drawn in …
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about the Quantity Theory of Money, but he hesitated to probe too deeply into the political and ideological elements of its … history, perhaps leading him to underestimate their importance for the theory's evolution. -- money ; Quantity theory ; value … theory ; positive economics ; empiricism ; formalism ; bimetallism ; gold standard ; monetarism …
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