Development of the Quantity Theory of Money

Jan Greitens ()
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Jan Greitens: Johann Wolfgang Goethe-Universität

Chapter Chapter 8 in Currency and Credit Money, 2026, pp 89-95 from Springer

Abstract: Abstract This chapter traces the emergence of the Quantity Theory of Money during the Price Revolution, distinguishing between metallistic and nominalistic versions. It contrasts Jean Bodin’s explanation of rising prices through increased precious metal supply with Bernardo Davanzati’s more abstract, quasi-nominalist formulation based on the relationship between money and goods. This chapter highlights the transition from commodity-based explanations to a more systematic understanding of money as a determinant of price levels. It also identifies limitations of early Quantity Theories, including unclear causality and neglect of velocity and demand.

Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spshcp:978-3-032-24113-9_8

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DOI: 10.1007/978-3-032-24113-9_8

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