The Value of Money

Name: The Value of Money
Author: Benjamin M. Anderson

By Benjamin M. Anderson

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Economics

About This Book

The author investigates how money acquires value by embedding the problem in a general theory of value and a dynamic theory of exchange, arguing that most trade arises from continual economic change and that speculation dominates transaction volume. He rejects static quantity theories and measures banking and market activity to show that bank credit primarily finances industry and supports speculative exchanges. The analysis develops a psychological account of credit, examines prices of securities and intangibles, and offers statistical evidence and policy implications for central banking operations while proposing a synthesis between static price theory and dynamic readjustment.

About the Author

Benjamin M. Anderson

Benjamin M. Anderson was an American economist and author known for his contributions to economic theory. His notable works include "Social Value: A Study in Economic Theory, Critical and Constructive" and "The Value of Money," where he explored the complexities of economic value and monetary theory. Anderson's writings reflect a critical and constructive approach to understanding economic principles, making significant impacts in the field during his time. His insights continue to be relevant for those studying economics and the philosophical underpinnings of value.