A Market Theory of Money [Hardcover]

In this book Nobel Laureate Sir John Hicks draws together the common threads of over fifty years of writing on monetary economics into a succinct statement of the fundamentals of monetary theory. Confronting the failure of both standard classical and neoclassical theory to fill the gap between monetary and non-monetary economics, he posits an idea of competitive markets that can be linked to the monetary sector, and explains the way in which economic theory has been adjusted to reflect developments in the real economy.

A Market Theory of Moneyis more than just a rennovation of past ideas. It offers a new interpretation of the business cycle, and an explanation of the differences between British and American economic systems. --Southern Economic Journal

Clearly destined to take on a special significance to historians of thought as the final contribution of one of the most influential economists of the twentieth century....Achieves everything that Hicks' admirers could have hoped, and represents a remarkable accomplishment....Remarkably, even in the course of a short theoretical work, Hicks is able to draw a number of important policy conclusions. --Eastern Economic Journal

Strongly recommended for upper-division and graduate collections. --Choice