Ricardo's Theory of Money Matters

Maria Cristina Marcuzzo and Annalisa Rosselli

Revue Économique, 1994, vol. 45, issue 5, 1251-1268

Abstract: [fre] Ricardo's Theory of Money Matters. . Dans cet exposé on analyse trois reproches adressés communément à la théorie monétaire de Ricardo : la monnaie-marchandise, la neutralité de la mon­naie et la conception d'équilibre à long terme. Le premier, que l'identification de la monnaie avec l'or empêche Ricardo de saisir le sens du papier-monnaie et, par conséquent de comprendre pleinement ses propriétés. Le deuxième, que Ricardo est le champion de la théorie quantitative de la monnaie et qu'il refuse de voir les effets réels des variations dans les variables nominales. Le troisième, que Ricardo porte une attention exclusive aux phénomènes permanents au détriment de l'analyse des phénomènes à court terme. Notre analyse affronte ces reproches et propose une interprétation alternative de la théorie monétaire de Ricardo. [eng] Ricardo's theory of money matters. . In this paper three common charges against Ricardo's monetary theory are evaluated : the commodity-money fallacy, the neutrality of money and the long-period view. According to the first, Ricardo's identification of money with gold prevented him from coming to grasp with paper-money and therefore fully understanding the properties of money. According to the second, Ricardo is the champion of the quantity theory of money and failed to see the real effects of variations in nominal variables. According to the third, Ricardo gave exclusive attention to permanent phenomena to the detriment of analysis of short-period disturbances. The paper challenges these views and provides an alternative interpretation of Ricardo's monetary theory.

Date: 1994
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13)

Downloads: (external link)
https://www.persee.fr/doc/reco_0035-2764_1994_num_45_5_409606 (text/html)
Data and metadata provided by Persée are licensed under a Creative Commons "Attribution-Noncommercial-Share Alike 3.0" License http://creativecommons.org/licenses/by-nc-sa/3.0/

Related works:
Chapter: Ricardo’s Theory of Money Matters (2024)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:prs:reveco:reco_0035-2764_1994_num_45_5_409606

Access Statistics for this article

Revue Économique is currently edited by Presses de Sciences-Po

More articles in Revue Économique from Programme National Persée
Bibliographic data for series maintained by Equipe PERSEE ().