Knut Wicksell and Ludwig von Mises on Money, Interest, and Price Dynamics

Agnès Festré

Journal of the History of Economic Thought, 2006, vol. 28, issue 3, 333-357

Abstract: In the aftermath of the so-called Marginal Revolution of the last end of the nineteenth century, economic analysis split into two branches. The first one was made up of economists who took as the methodological starting-point of their analyses the static or stationary state of a barter economy and considered that this basic framework was likely to be extended in order to account for monetary and financial considerations, as well as dynamics. However, in such a setting, the introduction of money, bank-credit, or any factor of growth did not substantially alter the features that are associated with the rudimentary economy of static real exchange.

Date: 2006
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