{"product_id":"traditional-inflation-theories-9786209510359","title":"Traditional inflation theories","description":"\u003cp\u003e • Author(s): Ahmed Alouani\u003cbr\u003e • Publisher: Our Knowledge Publishing\u003cbr\u003e • Publisher Imprint: Our Knowledge Publishing\u003cbr\u003e • BISAC: General\u003c\/p\u003e\u003cp\u003eThe text traces the evolution of the main theories explaining inflation. Four historical approaches are distinguished: the monetary explanation, inflation by costs, inflation by excess demand and the structural and institutional approach developed by heterodox currents. Keynesianism initially combined cost and demand explanations, before monetaro-Keynesianism integrated money as the central factor in excess demand.To the right of the mainstream, monetarists and rational expectations theorists see inflation as a strictly monetary phenomenon, based on the neutrality of money and its exogenous nature, controlled by the monetary authorities.To the left of the mainstream, post-Keynesians and the regulation school analyze inflation as a structural and institutional phenomenon linked to the functioning of capitalism. They defend an endogenous conception of money and oppose monetarism, taking the monetary economy of production as their starting point.\u003c\/p\u003e","brand":"Our Knowledge Publishing","offers":[{"title":"Paperback","offer_id":47570845958295,"sku":"9786209510359","price":4231.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0666\/3471\/1191\/files\/9786209510359.webp?v=1774884663","url":"https:\/\/atlanticbooks.com\/products\/traditional-inflation-theories-9786209510359","provider":"Atlantic Books","version":"1.0","type":"link"}