Rejoinder to V. Kerry Smith

Louise Davidson

Chapter 14 in Money and Employment, 1990, pp 244-245 from Palgrave Macmillan

Abstract: Abstract In his comment, Kerry Smith admits that the financing of basically illiquid positions of ‘goods in process’ is an essential aspect of a production economy organized on a forward money contracting basis. Smith realizes the importance of money and contracts in the production processes of modern firms; however, he claims that this idea can be readily incorporated into a neoclassical production function concept.

Date: 1990
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DOI: 10.1007/978-1-349-11513-6_15

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