A Theoretical Framework for Monetary Analysis.
FRIEDMAN Milton (1971.)
£125.00 [First Edition]
Available to view at our Curzon Street shop.
First edition. 8vo. 69,  pp. Original blue cloth, spine and front cover lettered in silver, with the scarce original glassine jacket. New York, National Bureau of Economic Research, NBER Occasional Paper 112.
Based on two papers by Friedman which had previously appeared in the University of Chicago's Journal of Political Economy: 'A Theoretical Framework for Monetary Analysis' and 'A Monetary Theory of National Income'.
The former was particularly important: 'until the publication of Friedman's 1970 paper there existed no explicit, formal and coherent statement of the theoretical structure underlying monetarist pronouncements. In opening up the monetarist 'black box' for theoretical scrutiny, Friedman intended to demonstrate that 'the basic differences among economists are empirical not theoretical'' (Snowdon & Vane, Modern Macroeconomics, p. 174).
Stock Code: 246104