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A Critique of Monetarist and Austrian Doctrines on the Utility and Value of Money
Review of Austrian Economics
Author: Richard H. Timberlake, Jr.
Online Publish Date:
Category: Monetary Theory, Prices, Value and Exchange
From The Review of Austrian Economics Vol. 1, No. 4, 1987. From the first, the Austrians entertained a wish ... to apply their marginal utility theory to the case of money—which both the enemies of this theory and some of its foremost sponsors . . . declared to be impossible.       —Joseph A. Schumpeter The current epoch of inflation over much of