Money And The Mechanism Of Exchange (1883)

Money and the Mechanism of Exchange is a book written by W. Stanley Jevons in 1883. The book is an in-depth study of the nature and function of money in the economy. Jevons was a British economist and logician who made significant contributions to the development of the marginal revolution in economics. In this book, Jevons explores the role of money in facilitating exchange and how it affects prices, production, and consumption.Jevons begins by examining the origins of money and how it evolved from barter. He then goes on to explain the functions of money, including its use as a medium of exchange, a unit of account, and a store of value. Jevons also discusses the various forms of money, such as commodity money, fiat money, and bank money, and how they differ in their properties and functions.The book also delves into the theory of value and how money affects prices. Jevons explains the concept of marginal utility and how it determines the value of goods and services. He then shows how changes in the money supply can affect prices and the economy as a whole.Finally, Jevons discusses the role of banks and the monetary system in the economy. He explains how banks create money through the process of fractional reserve banking and how this affects the money supply and the economy.Overall, Money and the Mechanism of Exchange is an important work in the history of economics. It provides a comprehensive analysis of money and its role in the economy and offers insights into the workings of the monetary system.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.