The Retreat from Monetarism
J.R. Shackleton, 6 February 1986
“... of a very old idea: the Quantity Theory of Money. This theory, clearly present in the work of David Hume and David Ricardo, was formalised in the work of Alfred Marshall, A.C. Pigou and Irving Fisher at the beginning of this century. With the rise of Keynesianism, however, the primary ... ”