Ebook Monetary Economics

What was intended at first as a preface began soon to assume such proportions that it has been converted into the Introductory Chapter. Here, I need only say a word or two as to the general divisions of the book. Definition is plainly impossible when the meanings of all the principal terms of the science are still the subjects of controversy. Yet we must have some guiding principle in regard to the use of these terms. That principle I have endeavoured to set forth in chapters one to four inclusive. On this follows some criticism of the theory of the Margin and of Marginal Utility in two chapters, succeeded, however, by three chapters on Value, in parts of which the criticism is continued. This may be said to close the first part Of the book, though it is not formally divided into parts. Chapter ten is devoted to a summary of the reasoning up to that point. In the following four chapters Money and Credit are dealt with, then the nature and the creation of wealth, and the more or less neglected theory of Demand. The book closes with some chapters that are of a more distinctly practical character.